Source: https://www.ria-compliance-consultants.com/frequently_asked_questions/faq_investment_advisor_registration/how-to-become-an-investment-advisor-webinars-form-adv-schedules-a-b-d-and-form-adv-part-1b/
Timestamp: 2018-05-20 09:37:20
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How to Become an Investment Advisor Webinars: Form ADV Schedules A, B & D and Form ADV Part 1B | RIA Compliance Consultants
How to Become an Investment Advisor Webinars: Form ADV Schedules A, B & D and Form ADV Part 1B
RIA Compliance Consultants explains the information reported by an investment advisor on Form ADV Schedules A, B and D and Form ADV Part 1B.
So, SEC fims and state firms both fill out the 1A. Everybody also fills out the schedule A and B, and again, that's where you're going to report your officers and owners of the firm. SEC registered firms have to put at least one person on the schedule A with the title of Chief Compliance Officer fully spelled out, or the application will reject. Then you have the Schedule D, that's again where you have to put various miscellaneous information. So as you're completing the part 1A, you have to read the items very closely and see if the items says if you answer yes to this, or if you have additional information regarding this, go to the Schedule D and fill it out, because you need to make sure that you're properly indicating all information on the Schedule D as well. Now, state registered firms have to do the part 1B in addition to the part 1A, and this is where you're going to indicate what state you need to get registered in, who is going to be the supervisory principal. So just a minute ago I talked about SEC registered firms having to appoint a CCO and indicate that CCO on the Schedule A. State registered firms have to have somebody acting in a similar capacity. The state not say they have to have the exact title of CCO like the SEC does, but the person that you put as the supervisory principal on the part 1B is the person that is the equivalent of a Chief Compliance Officer for your firm. If you had to purchase a surety bond, you have to indicate the surety bond information on the part 1B. And then there's some additional disclosure reporting items regarding unsatisfied liens, arbitration, and civil judgment.
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Description: RIA Compliance Consultants explains the information reported by an investment advisor on Form ADV Schedules A, B and D and Form ADV Part 1B.