The Securities and Exchange Commission has adopted amendments to the Form ADV Part I to capture additional information regarding investment advisers.
Beginning on October 1, 2017, investment advisers filing an initial or amended Form ADV will be required to provide additional information regarding separately managed accounts, aggregated data related to the use of borrowings and derivatives, more detailed information regarding the clients of the adviser, information about the top twenty-five (25) branch offices, information about the CCO, information regarding the adviser’s use of social media and much more. This means that advisers with a fiscal year of December 31st, will need to provide this information during their annual update period which is due by March 31st, 2018. However, any adviser who is required to file an Other than Annual Update on or after October 1st will be required to provide all the additional information. The system will not allow an incomplete Part I to be filed.
Please click here to see a copy of the proposed ADV Part I starting October 1, 2017. As you can see it contains a lot of redlined additions.
Red Oak is here to help you to meet this new regulatory requirement. Let Red Oak help you with your next annual ADV update to help ensure you are compliant with these new requirements.
About Red Oak Compliance Solutions
Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.