Form ADV Part 2 (IARD System Instructions)

With the deployment of Web CRD & IARD Release 9.0, investment adviser firms may now submit Part II of Form ADV through the IARD system.

Many jurisdictions permit investment adviser firms to provide clients with a brochure, in lieu of Part II of Form ADV, provided it contains at least the same information found on the form. For purposes of the IARD system, Part II of the Form ADV is referred to as the "brochure." Regardless of whether a firm submits Part II of Form ADV or a brochure, the document must be converted to a text-searchable PDF file before it can be submitted to the IARD system.

The IARD system provides firms users with the ability to:

• Submit/upload text-searchable PDF brochures to IARD system
• Perform text-based brochure searches
• View brochure filing history
• View brochure filing status and jurisdiction status information

For additional information regarding ADV Part II functionality, please the see the ADV Part II Navigation Guide and the ADV Part II Frequently Asked Questions page.

SEC-registered advisers: The SEC does not require SEC-registered advisers to file Part II of Form ADV electronically. Regardless of whether your firm files its Part II through IARD, your firm must continue to provide prospective clients with a copy of Part II or a brochure containing at least the same required information. A copy of Part II also must be kept in your office for inspection by the SEC. 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 II of Form ADV.

State-registered advisers: All states will accept Part II through IARD. Some states may require you to file Part II through IARD. If you are uncertain whether your state requires submission via IARD, please contact the state securities regulator directly. Their numbers are available on the NASAA Web Site.