Business & Commerce

Notice of Information Collection for SEC Registration Rule 203A-2(d) Extension

🇺🇸United States··Notice·Medium Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

This notice concerns a request to extend information collection under Rule 203A-2(d) of the SEC. The rule allows multi-state investment advisers to register with the SEC if they meet certain criteria, particularly being required to register in 15 or more states. Advisers relying on this must fulfill specific documentation and retention obligations to maintain eligibility.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • Extension of the information collection period for SEC Rule 203A-2(d)
  • Requirement for multi-state advisers to document eligibility for SEC registration
  • Obligation to maintain records for five years

Obligations

What this law requires

high

Indicate on Schedule D of Form ADV that the adviser has concluded it is required to register in 15 or more states

Investment advisers relying on Rule 203A-2(d) exemption
disclosure
high

Include an undertaking on Schedule D of Form ADV stating the adviser will withdraw its registration if it no longer meets the 15-state registration requirement

Investment advisers relying on Rule 203A-2(d) exemption
disclosure
high

File Form ADV-W within 180 days of the adviser's fiscal year end if the annual updating amendment indicates the adviser is no longer required to register with at least 15 states

Investment advisers relying on Rule 203A-2(d) exemption that no longer meet the 15-state requirement
reporting
high

Maintain a record for five years after each Form ADV filing documenting all states in which the adviser has determined it would be required to register but for the Rule 203A-2(d) exemption

Investment advisers relying on Rule 203A-2(d) exemption
operational
medium

Keep the five-year state registration records in an easily accessible place for SEC examination and oversight purposes

Investment advisers relying on Rule 203A-2(d) exemption
operational

Affected Parties

Multi-state investment advisers

Tags

SEC,investment advisers,compliance