Investment Adviser Representative Information Now Publicly Available on IAPD

IAPD Update Provides Information on IA Reps

The Investment Adviser Public Disclosure (IAPD) was updated this week so that information on investment adviser representatives will now be available online.  Previously the search function allowed members of the public to access information on IA firms only.  The previous information available through the adviser search function consisted of an advisory firm’s Form ADV, Form ADV Part II and Schedule F.  Now, the IAPD provides the following information on each representative of a registered investment advisory firm:

  • Current employer (including employer’s IARD number and adress)
  • Number of jurisdictions representative is registered in
  • Whether the representative is suspended in any jurisdictions
  • Registration and Employment History (including dates registered at previous firms)
  • Disclosure information (including any U-4 disclosures and current and past complaints)
  • Whether there is information on representative in BrokerCheck (run by FINRA)

Certain representatives will not show up in the system if the person is not currently registered with a state, has not been registered with a state in the last two years, or has not been the subject of a final regulatory event that has been reported to IARD.

It is important for representatives of investment advisory firms to understand that the above information will now be publicly available and may be accessed by investors during the due diligence process.   Accordingly, we recommend reps occasionally check their profile on the IAPD to make sure there is no incorrect information listed.

****

Other related hedge fund law articles:

Cole-Frieman & Mallon LLP provides comprehensive regulatory support and hedge fund registration services.  Bart Mallon, Esq. can be reached directly at 415-868-5345.

Leave a Reply