Investment Advisers and Investment Adviser Representatives

Investment advisers and their representatives operating in Washington (with certain exceptions) are required to be licensed with the Securities Division. Persons who provide investment portfolio management for their clients or who hold themselves out to the public as financial planners are among those required to be licensed.

News and Updates

Given the disruptions caused by the COVID-19 outbreak and dislocations affecting broker-dealers, state registered investment advisers, federal covered investment advisers, and their registered agents or representatives (collectively, “financial professionals”), the Washington State Department of Financial Institutions, Securities Division (DFI) will take no action to enforce the registration and other provisions of the Securities Act as described in this announcement.
The final stage of the annual renewal process is your fiscal year end filings. As your investment adviser’s fiscal year end is December 31, your filing due dates are:
Renewal season is almost here. Renewal has two steps: (1) payment of annual renewal fees to the Investment Adviser Registration Depository (IARD), which must be received by the IARD no later than December 16, 2019; and (2) annual filing requirements, which are due within 90-120 days after the investment adviser’s fiscal year end (FYE).
The Washington Securities Division has adopted amendments to the investment adviser rules at Chapter 460-24A WAC.
The Division of Securities has adopted a rule to implement a $10 fee increase for initial and renewal applications for registration as an investment adviser, broker-dealer, investment adviser representative, and securities salesperson.
Information for investment advisers who are succeeding their business to another entity or individual. There are two types of succession: Succession by Amendment or Succession by New Application.
This addresses investment advisers moving to or opening a place of business in the State of Washington and providing investment advisory services for compensation in this state or holding themselves out as doing so, prior to registering in this state as investment advisers or investment adviser representatives.

Information for Applicants

All applicants, whether for state registration or federal notice filing status, must file over the Internet through the Investment Adviser Registration Depository (IARD). In addition, applicants for state registration must file additional documents directly with the Securities Division.

Applicants for investment adviser representative registration must apply via an electronic Form U-4 on the IARD system, submitted by their firm.

Renewal of investment adviser and investment adviser representative registrations takes place through the IARD system after the first weekend in November. Renewal information can be accessed at www.iard.com.

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