Investment Adviser and Investment Adviser Representative Licensing
What's New
-
Renewal Reminder for 2008
In order for an investment adviser firm to maintain active registrations and/or Notice Filing statuses with Washington State and for investment adviser representatives to maintain active registration statuses, firms must pay applicable renewal fees annually. Learn more..
-
Investment Adviser Seminar
In 2007 the Securities Division presented a seminar on books and records requirements, other compliance issues and the examination process. Below are links to the PowerPoint presentation and the cross-reference sheet between the topic covered and the corresponding regulation.
View Seminar Presentation (PDF)*
View Cross-Reference Sheet (PDF)*
-
Notice To Hedge Fund Managers - Partnership and LLC Agreements
Regarding the use of Partnership and LLC Agreements to satisfy the written investment advisory contract requirement. View Notice (PDF)*
-
Notice To Hedge Fund Managers with Less than $25 Million in Assets
Any hedge fund manager with a place of business in Washington with less than $25 million in assets under management must consider registering with the Securities Division as an investment adviser by February 1, 2006. View Notice (PDF)*.
Information for Investors
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. The Division reviews investment adviser applications for the qualifications of their principals and their disciplinary history, and the adequacy of the disclosure they are required to provide to clients. Applications received for representative licensing are reviewed for disciplinary history and to ensure that appropriate examinations have been passed or designations held.
To check to see whether an investment adviser or investment adviser representative is registered with the Securities Division or has any disciplinary history, please contact Bruce Johnson or call 360-902-8781.
The Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) have a new website that allows investors to electronically access information about money managers, financial planners and other investment advisers. The Investment Adviser Public Disclosure (IAPD) website provides instant access to registration documents filed by more than 9,000 registered investment advisers. The documents provide information about each adviser’s business, advisory services and fees, as well as disciplinary problems an adviser or its employees may have had during the last ten years.
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. Please see the links below for more specific information.
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
http://www.iard.com.
A list companies that provide study materials for FINRA
examinations can be found on the website of the
North American Securities
Administrators Association. Click on "Exams" from the
drop-down menu at the top of the page.
Notice Filing Requirements for Federally Covered Investment Advisers
Registration and Regulation of State-Registered Investment Advisers
Investment Adviser Registration Check Sheet
Investment Adviser Representative Transition Checklist and Procedures
Privacy Notices to Be Sent to Clients
How to apply for a FINRA Examination
