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Investment Adviser Information Website Online; Time to be Preparing for New Form ADV, Part 2

October 1, 2001

The SEC has just inaugurated its online Investment Adviser Public Disclosure website, which is freely available to the public. The website, which displays the electronic Form ADV, Part 1 that you began filing at the beginning of the year, includes information on at least 9000 SEC and state-registered advisers. The IAPD website is at http://www.adviserinfo.sec.gov/

The SEC press release is at http://www.sec.gov/news/headlines/adviserinfo.htm

Although the new Form ADV, Part 2 brochure -- in particular, the updating requirement -- is still subject to heated comment by industry trade groups, we may well see the final version out by year-end. The new brochure will be very important to your business, from both a PR and a compliance standpoint. As observed in our May 2000 memo on the subject, this will require a substantial planning effort and commitment of management time to produce. It is unlikely that the final requirements for Part 2 will vary substantially from those proposed last year. Therefore, it is not too soon to begin reviewing the disclosures that will be required and planning for the new approach. Please contact any member of our Investment Management Practice Group Members if you wish to discuss these topics.

 

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