Waiver Continues for IARD System Fees for State-Registered Investment Adviser Firms; Investment Adviser Representative System Fees Remain Unchanged
WASHINGTON, D.C. (September 28, 2022) – The North American Securities Administrators Association (NASAA) today announced the continued waiver of Investment Adviser Registration Depository (IARD) system fees in 2023 for state-registered investment adviser firms, and the continuation of the initial set-up and annual system fees paid by investment adviser representatives.
Effective January 1, 2023, the initial IARD set-up and renewal system fees will remain $15 for investment adviser representatives. This fee was $45 when the IARD system became operational in 2001. These fees fund user and system support as well as system enhancements of the IARD system to improve its effectiveness and efficiency and to make it more user-friendly for applicants and registrants.
NASAA President and Iowa Deputy Securities Administrator Andrew Hartnett said NASAA’s Board regularly monitors IARD operations and costs to determine when a fee change is warranted to ensure the effective and efficient operation of the IARD system.
IARD is an electronic filing system for Investment Advisers and Investment Adviser Representatives sponsored by NASAA and the Securities and Exchange Commission (SEC). The system provides investment advisers and their representatives a single source for filing state and federal registrations and notice filings with regulators. Public access to certain regulatory filings made through the IARD is available through the Investment Adviser Public Disclosure (IAPD) database.
Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of securities regulators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, visit www.nasaa.org.
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Jeanne Hamrick | Director of Communications
Karen Grajales | Communications & Investor Outreach Manager