Worried That Your Next SEC Audit Will End in Fines? TAKE THE ASSESSMENT


Stay informed on the key changes in Form ADV effective this October and ensure compliance and readiness.

Requirements for ADV Updates from October 1, 2017.

The Securities and Exchange Commission (the “SEC”) requires SEC-registered investment advisers and exempt reporting advisers to annually update information on Form ADV. Beginning October 1, any initial filing of or amendment to Form ADV will need to be revised to include

  1. any additional CRD numbers;
  2. a list of the 25 largest offices in terms of numbers of employees as of the end of the most recent fiscal year;
  3. the total number of offices that you conduct investment advisory business at;
  4. links to your websites AND all accounts on publicly available social media (Twitter, Facebook, LinkedIn, etc.);
  5. the name of your outsourced CCO;
  6. the number of clients who have no regulatory AUM but provided investment advisory services to;
  7. the amount of regulatory AUM attributable to each client type;
  8. the number of clients for each client type;
  9. if you participate in a wrap fee program, the breakdown of regulatory AUM based on your role as sponsor, portfolio manager and both to the same program;
  10. the percentage of regulatory AUM attributable to investments in derivatives, registered investment companies, business development companies and pooled investment vehicles;
  11. the percentage of regulatory AUM attributable to different asset classes;
  12. use of borrowings and derivatives in separately managed accounts; and
  13. new Schedule R is you are a relying adviser.

Need help with your initial, annual amendment or other-than-annual amendment filing?

Not sure where to start? Frustrated? Stressed? Over it?



Author Bio

Leila Shaver is the Founder of My RIA Lawyer, a law firm that provides compliance and legal consulting for financial institutions. With extensive experience as a securities attorney and compliance expert, she has served as Chief Compliance Officer and General Counsel to RIAs, BDs, and TAMPs with billions in assets under management.

Leila understands the challenges RIAs face and is committed to helping RIAs streamline their processes, mitigate risks, and ensure compliance with regulatory requirements. She received her Juris Doctor from Atlanta’s John Marshall Law School and is a West Georgia Young Lawyers’ Association member. Leila has received numerous accolades for her work, including the Carroll County Bar Association’s Outstanding Young Lawyer Award in 2017.

LinkedIn | State Bar Association | Avvo | Google