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17 C.F.R. § 275.204-1   Amendments to application for registration.

Title 17 - Commodity and Securities Exchanges

Title 17: Commodity and Securities Exchanges
PART 275—RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940

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§ 275.204-1   Amendments to application for registration.

(a) When amendment is required. You must amend your Form ADV (17 CFR 279.1):

(1) At least annually, within 90 days of the end of your fiscal year; and

(2) More frequently, if required by the instructions to Form ADV.

Note to paragraph (a): Information on how to file with the Investment Adviser Registration Depository (“IARD”) is available on our website at www.sec.gov/iard.

(b) Electronic filing of amendments. (1) You must file all amendments to Part 1A of your Form ADV electronically with the IARD, unless you have received a continuing hardship exemption under §275.203–3.

(2) If you have received a continuing hardship exemption under §275.203–3, you must, when you are required to amend your Form ADV, file a completed Part 1A of Form ADV on paper with the SEC by mailing it to the NASD.

(c) Special rule for Part II. You are not required to file with the Commission a copy of Part II of Form ADV if you maintain a copy of your Part II (and any brochure you deliver to clients) in your files. The copy maintained in your files is considered filed with the Commission.

Note to paragraph (c): The Commission has proposed, but not adopted, substantial changes to Part II of Form ADV. Thus, the rules for preparing, delivering, and offering Part II (or a brochure containing at least the information contained in Part II) have not changed. If you are an SEC-registered adviser, however, you no longer have to file Part II with the Commission. Instead, you must keep a copy in your files, and update the information in your Part II whenever it becomes materially inaccurate. State law may continue to require you to file Part II with the appropriate State securities authority on paper, regardless of whether you are filing Part 1 on paper or through the IARD.

(d) Filing fees. You must pay the NASD (the operator of the IARD) an initial filing fee when you first electronically file Part 1A of Form ADV. After you pay the initial filing fee, you must pay an annual filing fee each time you file your annual updating amendment. No portion of either fee is refundable. The Commission has approved the filing fees. Your amended Form ADV will not be accepted by NASD, and thus will not be considered filed with the Commission, until you have paid the filing fee.

(e) Amendments to Form ADV are reports. Each amendment required to be filed under this section is a “report” within the meaning of sections 204 and 207 of the Act (15 U.S.C. 80b–4 and 80b–7).

[65 FR 57450, Sept. 22, 2000; 65 FR 81738, Dec. 27, 2000, as amended at 68 FR 42248, July 17, 2003]

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