New York Codes, Rules and Regulations › Title 13 - DEPARTMENT OF LAW › Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL › Subchapter A - SECURITIES-GENERAL › Part 11 - INVESTMENT ADVISORY SERVICES › Section 11.4 - Registration information

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Initial application. The application for initial registration as an investment
				  adviser pursuant to these rules shall be made by completing Form ADV (Uniform
				  Application for Investment Adviser Registration) (17
				  C.F.R. 279.1)  in accordance with the form
				  instructions and by filing the form with CRD/IARD. The application f or initial
				  registration as an investment adviser representative pursuant to these rules
				  shall be made by completing Form U4 in accordance with the form instructions
				  and by filing the form with CRD/IARD. (Both Form ADV: General Instructions and
				  the General Instructions for Part 2 of Form ADV are published by the U.S.
				  Securities and Exchange Commission, 1 00 F Street, NE Washington, DC 20549.
				  Form U4 Uniform Application f or Securities Industry Registration or Transfer
				  General Instructions is published by FINRA, 1735 K St NW, Washington, DC 20006.
				  These instructions are viewable at https://ag.ny.gov/forms).
(b) Time for filing. Unless an application
				  for a new investment adviser representative is filed in accordance with
				  subdivision (i), an investment adviser or investment adviser representative
				  application must be filed with CRD/IARD and approved by the State prior to
				  engaging in investment advisory activities in the State of New York.
(c) Where registration required. All
				  investment advisers and solicitors with more than five (5) clients in the State
				  of New York must make application to register as an investment adviser, unless
				  such solicitor is a federally covered investment adviser, or is otherwise
				  exempt from registration with the State under §
										11.13. All
				  principals, investment adviser representatives and supervisors must apply for
				  registration in connection with their representation of any investment adviser
				  or solicitor. All investment adviser representatives f or a federally covered
				  investment adviser must apply f or registration in connection with their
				  representation.
(d) Annual renewal.
				  The application for annual renewal as an investment adviser, solicitor an d
				  investment adviser representative shall be filed with CRD/IARD. The application
				  for annual renewal registration shall include the required fee and any other
				  information the Department of Law may reasonably require.
(e) Length of registration. The registration
				  is for a calendar year or for that remaining part of the calendar year in which
				  it is submitted.
(f) Updates and
				  amendments.
(1) Investment advisers and
				  solicitors must file with CRD/IARD, in accordance with the instructions in the
				  Form ADV, any amendments to the investment adviser ' s Form ADV.
(2) All investment adviser representatives,
				  and all principals and supervisors f or a n y investment adviser, must file
				  Form U4 or U5, as appropriate, on CRD/IARD and must amend such form s in
				  accordance with the respective form's instructions. (Form U5 Uniform
				  Termination Notice for Securities Industry Registration General Instructions
				  published by FINRA, 1735 K St NW, Washington, DC 20006 are viewable at
				  https://ag.ny.gov/forms.)
(3) An
				  amendment will be considered to be filed promptly if the amendment is filed
				  within thirty (30) days of the event that requires the filing of the
				  amendment.
(4) Investment advisers
				  and solicitors must file with CRD/IARD, an updated Form ADV within ninety (90)
				  days after the end of the investment adviser or solicitor's fiscal
				  year.