Nevada Secretary of State: Securities Licensing

Investment Advisor (IA) & Investment Advisor Representative

The following information is not intended to replace, or to be a composite of the statutes and regulations NRS Chapter 90 or NAC Chapter 90. It is intended only to assist applicants.

The Secretary of State Securities Division is a participant in the Investment Adviser Registration Depository (IARD). The IARD is a web-based electronic filing system at www.iard.com.

REQUIRMENTS FOR APPLICATION

Investment Advisor (Firms only)
Representatives of Investment Advisors (Individuals)
Renewal
Withdrawal
Other
Special Notice: Submission of Form ADV Part II (PDF)

REQUIREMENTS FOR INVESTMENT ADVISERS (Firms only)

Federal Covered Advisers
The SEC has adopted rules mandating that all SEC registered Federal Covered Advisers use the IARD and file their FORM ADV and all amendments electronically.

In general, advisers who have less than $25 million of assets under management are prohibited from registering with the SEC, and must register with the states in which they conduct business

State Licensed Advisers
For investment advisers licensed with the Nevada Securities Division, all filings are to be made through the IARD on FORM ADV and all amendments.

How to Set Up an Account
Forms and information about setting up an IARD Account can be found on the NASDR's website www.iard.com. A financial account for billing and payment of fees will be established for your firm and will be paid from this account to Nevada. The fee for investment adviser firms is $300.00 annually. (NRS 90.360)

IARD processing and maintenance fees, which are paid to the system vendor, are in addition to the state licensing fees.

Part II Form ADV - Firms will be required to file electronically Part 1A, 1B, and Part II through IARD for Nevada licensing (see Special Notice - PDF).

REQUIREMENTS FOR REPRESENTATIVES OF INVESTMENT ADVISERS (Individuals)

The IARD is set up to receive U-4's for licensing of representatives of investment advisers.

Filing Fee of $110.00 for initial application and renewal will be deducted from the CRD/IARD account set up by the firm.
Form U-4. The Uniform Application for Securities Industry Registration or Transfer will be accepted electronically by the CRD/IARD system.

Information regarding exams will be submitted through CRD/IARD. Nevada requires Series 65 or both 66 and 7 examination(s) (if not expired) or one of the following designations:

Certified Financial Planner (CFP) granted by the Certified Financial Planners Board of Standards; Chartered Investment Counselor (CIC) granted by the Investment Counsel Association of America; Chartered Financial Consultant (ChFC) granted by the American College; Personal Financial Consultant (PFS) granted by the American Institute of Certified Public Accountant or Chartered Financial Analyst (CFA) granted by the Association for Investment Management and Research.

Representatives of Investment Advisers of "Federal Covered Advisers." Please note that a representative of a Federal Covered Adviser with a place of business in Nevada must be licensed as a representative of an Investment Adviser.(NAC 90.3912) NRS 90.340 A representative of an investment adviser is exempt from licensing if he/she is also a sales representative who is currently employed by a licensed broker-dealer in Nevada who has passed either the Series 65 or 66 with a series 7.

RENEWAL (Firms and Individuals)

Fees
In November of each year you will receive a renewal notice from the IARD advising how much you must remit for renewal of the investment adviser ($300.00) and representatives of investment advisers($110.00). All renewal fees will be paid through the IARD system.

A Powerpoint presentation of the IARD renewal process can be found at www.nasaa.org under main menu, "Investment Advisor - Powerpoint Presentations".

WITHDRAWAL (Firms only)

File Form ADV-W through IARD
Form ADV-W is effective upon acceptance by the Nevada Securities Division. Moving to Federal Registration or from Notice Filing status to State licensed - do not file ADV-W

If you are registering with the SEC because you are eligible for SEC you must notify the IARD that you will be "Notice Filing" or state licensed. The fee will be deducted from your IARD account.

OTHER ITEMS

1. FINRA and SEC forms can be obtained from:
Securities & Exchange Commission Publication Unite Mail Stop C-11 450 5th Street, NW Washington, DC 20549 Message request 202-942-4046 www.sec.gov	-or-	Financial Industry Regulatory Authority Media Source P.O. Box 9403 Gaithersburg, MD 20898 301-590-6500 www.nasdr.com
2. Exam Study and Testing Information:
Pictorial Dearborn Institute Sylvan Learning Center- scheduling Las Vegas Office Insurance & Securities School Insurance & Securities Training		800-428-1324 800-824-8742 800-967-1100 702-876-4090 800-845-3392 800-352-6260

For questions on the application of IA and IAR please contact our office at (702) 486-2440 and ask for Terry Sanchez, Licensing Examiner or Edwin Apenbrink, Director of Registration & Licensing.