Please Note: All filings for Investment Advisers and their Representatives pursuant to Rule 116.1(b)(2)(A) must be made through the CRD/IARD System
| Investment Adviser | $275.00 |
| Investment Adviser Representative | $285.00 |
- Amend Form ADV electronically via the CRD/IARD System to include Texas as a state in which the Investment Adviser is pursuing a Notice Filing.
- If the Investment Adviser Representative ("Representative") does not meet the SEC definition of a Representative, the Investment Adviser must notice file and pay the fee via Form U-4 on CRD for each Representative. Amend Form U-4 for each Representative, including Solicitors, to identify Texas as a state in which the Representative will conduct business. In addition, renewal fees for each Representative must be paid via CRD/IARD prior to December 31 each year.
- Representatives who are located in Texas must register in Texas and satisfy the registration and examination requirements. (Refer to Examination Requirements.)
- Texas-registered Broker/Dealers submitting a Notice Filing as an Investment Adviser must complete Form ADV via IARD. Each agent of the Broker/Dealer may be required to satisfy the minimum examination requirements for Representatives.
- SEC-registered Investment Advisers converting to state registration must amend, via IARD, Form ADV to include Texas as a state in which it is pursuing registration. This will require an amendment fee of $25 paid electronically via IARD. Each of the Investment Adviser's Representatives will be required to satisfy the minimum examination requirements. Upon an electronic notification via IARD from the filing of Form ADV, Registration staff will be in contact with the Investment Adviser by letter outlining other registration requirements.
Investment Adviser Registration Depository (IARD)
On January 1, 2001, the State of Texas began participation in the electronic investment adviser filing system, the Investment Adviser Registration Depository (IARD). The IARD is a joint effort by the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA). The Financial Industry Regulatory Authority (FINRA), acting as a vendor only, operates the IARD.
The IARD offers several advantages to investment advisers. It eliminates paper filings, satisfies SEC and state filing and licensing requirements via a single filing, and provides easy public access to information about all firms.
On June 8, 2001, the Texas State Securities Board (the Board) adopted a rule that mandates participation in IARD by all investment advisers registered with the Securities Commissioner.
The first step in applying for investment adviser notice filing is to apply for access to the IARD system by completing forms in the State Registration IARD Entitlement Packet. This information is available at www.iard.com. The IARD Entitlement Group will send you a Confirmation Packet containing a log-on name and initial password which you will use to sign onto the IARD.
Prior to signing on, you should access the IARD Users Manual on the IARD website. It provides detailed instructions on how to submit your electronic filings. The IARD Users Manual helps guide you through IARD filings. You might find it beneficial to print this manual for future reference. After you receive a log-on name and initial password, you can set up your on-line IARD account by following the steps in Chapter 2 of the IARD Users Manual.
Once you have set up your account and completed the initial filing, as described above, you must submit Form ADV, Parts I and II, through the IARD. Please note that you must have established an account and have the necessary funds on deposit with the IARD before you file Form ADV, Part I, or your filing will not be accepted.
The FINRA Investment Adviser Support line is available at (240) 386-4848 to assist you with questions regarding IARD system navigation and use. FINRA does not have regulatory authority over investment advisers; therefore, questions related to investment advisory policy, interpretation, or regulatory requirements should be directed to the State Securities Board at (512) 305-8300.
Additional information regarding the IARD system is available at www.iard.com. You may also submit questions to the State Securities Board at (512) 305-8300 or refer to the Dealer/Agent and Investment Adviser/Representative FAQs on this website.