Washington State Department of Financial Institutions

2012 Investment Adviser Renewal Notice

Included in this notice:

  1. IARD System Fee Waiver for 2012 Renewals
  2. All BD and IA Offices Required to File Form BR on CRD/IARD
  3. Investment Adviser Switch Notice From the DFI Securities Division
  4. IA Registration and Renewal Check Sheet Website

1) IARD System Fee Waiver for 2012 Renewals

The North American Securities Administrators Association (“NASAA”) has announced that Investment Adviser Registration Depository (“IARD”) system fees will be waived again this year for investment advisers and their representatives renewing their registrations for 2012. Therefore, preliminary and final renewal statements should only reflect renewal fees to be paid to the state(s) where the adviser and its representatives are registered. For Washington, renewal fees will remain $75 for investment advisers and $20 for each associated person.

2) All BD and IA Offices Required to File Form BR on CRD/IARD

The Washington State Department of Financial Institutions requires broker-dealers (“BDs”) and investment advisers (“IAs”) to file Form BR on the Central Registration Depository (“CRD”) or Investment Adviser Registration Depository (“IARD”). Every BD or IA registered with or noticed filed in Washington State with more than one place of business must file a Form BR that lists every Washington State place of business (main offices and each additional branch). If a BD/IA has not already done so, this filing must be completed the next time the BD/IA files an “annual updating amendment” or an “other than annual updating amendment” on CRD/IARD. There is no additional fee for this filing. Please contact the CRD/IARD Help Desk at (240) 386-4848 or email webiard@finra.org if you have any trouble filing Form BR.

3) Investment Adviser Switch Notice From the DFI Securities Division

The Washington State Department of Financial Institutions ("DFI") issued its "Notice Regarding Investment Adviser Switch to State Registration" and "Investment Adviser 2012 Switch to State Registration: Frequently Asked Questions" on October 21, 2011. Those notices can be found on DFI’s website at: http://dfi.wa.gov/sd/investmentadviser.htm. Questions regarding the switch from the SEC to state registration can be emailed to IALicensing@dfi.wa.gov. Additionally, NASAA has established a switch resource center on its website to provide resources and information for investment advisers affected by this transition: http://www.nasaa.org/1719/ia-switch-resource-center/.

4) IA Registration and Renewal Check Sheet Website

The Securities Division issued its "Investment Adviser Renewal Reminder for 2012" on October 26, 2011. This letter can be found can be found on the Security Division’s website at: http://dfi.wa.gov/sd/investmentadviser.htm. Additionally, the IA Registration and Renewal Check Sheet can be found at: http://www.dfi.wa.gov/sd/iachecksheet.htm. For additional updates, please continue to check the website throughout the renewal process.