IARD System Frequently Asked Questions - Form Filing for IA Firms
ADV Part 2
1. Do firm users need entitlement to file Part 2 of Form ADV in IARD?
In order to file Part 2 of Form ADV, the user must have entitlement to submit Forms ADV and ADV-W. There is no additional ADV Part 2 entitlement for firm users.
2. Is my firm required to file Part 2 of Form ADV through IARD?
For policy questions related to Form ADV, firms should contact the regulator(s) directly. A list of jurisdiction regulators can be found at www.nasaa.org.
Note to SEC-registered advisers: The SEC requires that SEC-registered advisers file Part 2 of Form ADV electronically through the IARD system. See Rules 203-1(b)(2), 204-1(c) and 204-3 of the Investment Advisers Act for details of your legal obligations concerning Part 2 of Form ADV.
3. What information should I include in my brochure?
For questions related to the contents of brochures, firms should contact the regulator(s) directly. SEC-registered advisers may contact the SEC by email. A list of jurisdiction regulators can be found at www.nasaa.org.
4. Is ADV Part 2 a separate form in IARD?
No, Part 2 is simply the second part of Form ADV (i.e. Part 1) and can be accessed by opening a Form ADV filing.
5. How do I know if my brochure is text-searchable?
To test if your brochure is text-searchable:
- Open the PDF file
- Click Edit from the Tool Bar
- Click Find from the menu options
- Search for a word in the document
If you are able to perform a word search, the document is text-searchable.
6. Can I amend the Brochure Name, Brochure Description and Types of Business on a brochure filing without attaching a new version of the brochure?
No. A new brochure attachment is required if the brochure metadata (i.e. Brochure Name, Description, and Brochure Type) is changed.
7. I've created a new brochure on a Part 2 filing by entering the Brochure Name, Brochure Description and Type of Business but I do not see a button to upload the brochure. Where should I click to upload my document?
You will be prompted to upload the new brochure after clicking the Submit Filing hyperlink in the navigation panel.
8. If you retire a brochure can you change the brochure description?
No. Firms cannot amend a brochure after it has been retired. If the firm wants to retire a brochure but they have changes, they must amend the brochure first then retire it.
9. Will retired brochures display on IAPD?
Retired brochures will not display in IAPD. However, retired brochures will display in IARD.
10. I am trying to perform a Brochure Search by entering Brochure Name in the search criteria. However, the results do not contain the brochure I am searching for. Why?
The Brochure Search functionality only searches for content within a brochure. The Brochure Name and Brochure Description are not included as search criteria. Your search criteria should consist of a word or phrase found within the brochure content.
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