Commissioner's Release: 114-C - Attachment

 

SEC-REGISTERED INVESTMENT ADVISER – NOTICE FILING REQUIREMENTS, INSTRUCTIONS & FEES


Each Investment Adviser ("Adviser") registered with the Securities and Exchange Commission ("SEC") that conducts business with more than five (5) California clients shall file a notice with the Department of Business Oversight as required under Corporations Code Section 25230.1(b).

Effective January 1, 2001 or at such time as the SEC mandates electronic filing, the procedures for filing with the Commissioner shall be as follows.

  1. INITIAL NOTICE: The initial notice shall be filed with the Investment Adviser Registration Depository ("Web IARD") on Form ADV (Uniform Application for Investment Adviser Registration) (17 CFR 279.1). Form ADV shall be filed in accordance with the instructions in the Form ADV and must be filed within thirty (30) days of conducting business in the state. The notice shall be deemed filed when the $125 notice filing fee required by Section 25608.1(d) and Form ADV are filed with and accepted by Web IARD on behalf of the state.
  2. PORTIONS OF FORM ADV NOT YET ACCEPTED BY WEB IARD: If an Adviser agrees to provide, within five (5) days of a request, Part 2 of Form ADV to the Commissioner, an Adviser is not required to file Part 2 of Form ADV with the Commissioner until Web IARD provides for the filing of Part 2 of Form ADV.
  3. ANNUAL RENEWAL: The notice expires December 31st unless renewed. The annual renewal shall be filed with Web IARD in accordance with its procedures. The renewal of the notice filing shall be deemed filed when the $125 notice filing fee required by Section 25608.1(d) is filed with and accepted by Web IARD on behalf of the state.
  4. AMENDMENTS TO FORM ADV: Any changes to the information contained in Form ADV shall be filed in accordance with the instructions in the Form ADV with Web IARD.
  5. INVESTMENT ADVISER REPRESENTATIVES: Each Investment Adviser Representative ("IAR"), as defined in Section 25009.5(b) of the Corporations Code, with a place of business in the state shall be reported in the manner as prescribed in Commissioner’s Release No. 114-C.
  6. SWITCHING TO STATE REGISTRATION: Within (30) days of the date the annual updating amendment to Form ADV should be filed with Web IARD, the Adviser shall file an application for an investment adviser’s certificate in accordance with 10 CCR Section 260.231.

Any questions and inquiries may be directed to the Sacramento Office of the Department of Business Oversight at 1-866-ASK-CORP.

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