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PA Bulletin, Doc. No. 02-881



Designation of an Investment Adviser Registration Depository for Applications, Renewals, Amendments and Fees for Pennsylvania Registered Investment Advisers

[32 Pa.B. 2393]

   Whereas, Section 303(a) of the Pennsylvania Securities Act of 1972 (1972 Act) requires investment advisers seeking registration in Pennsylvania to file an application with the Pennsylvania Securities Commission (Commission); and

   Whereas, Sections 602(d.1) and 602.1(a)(4) of the 1972 Act requires investment advisers to pay filing fees and compliance assessment fees annually to the Commission (Filing Fees); and

   Whereas, Commission Regulation 303.012, 64 Pa. Code § 303.012, states that the application required by Section 303(a) of the 1972 Act shall be the Uniform Application for Investment Adviser Registration (Form ADV); and

   Whereas, Commission Regulation 303.012, 64 Pa. Code § 303.012, requires an amendment to Form ADV when material information contained in the Form ADV becomes incorrect or incomplete (Form ADV Amendment); and

   Whereas, Form ADV requires the filing of an annual updating amendment to Form ADV within 90 days after the end of the investment adviser's fiscal year end (Annual Updating Amendment); and

   Whereas, Commission Regulation 303.012, 64 Pa. Code § 303.012, authorizes the Commission, by order, to designate an investment adviser registration depository for the receipt of Form ADV, Form ADV Amendments and Filing Fees; and

   Whereas, the Commission, finds it necessary and appropriate in the public interest and for the protection of investors and consistent with the purposes fairly intended by the policy and provisions of the 1972 Act to issue the following Order:

   Now Therefore, the Commission, on the 23rd day of April, 2002, pursuant to Commission Regulation 303.012, 64 Pa. Code § 303.012, orders the following:

   1.  For purposes of Commission Regulation 303.012, the Commission designates the following as the only investment adviser registration depository authorized to receive Form ADV, Form ADV Amendments, Annual Updating Amendments and Filing Fees on behalf of the Commission (IARD):

IARD Document Processing
NASD Regulation, Inc.
NASD Regulation, Inc., CRD-IARD
P. O. Box 9495 P. O. Box 7777-W9995
Gaithersburg, MD 20898-9495 Philadelphia, PA 19175-9995

   2. Effective with the date of this order and thereafter, all investment advisers that are registered in Pennsylvania, as of the effective date of this order, shall transition their registration to the IARD (''Transition Filing'') no later than September 30, 2002, which Transition Filing shall include submission of a complete and accurate electronic Form ADV, Parts 1A and 1B using the amended Form ADV. This electronic filing shall be made through the IARD at

   3.  For any renewal occurring after the effective date of this order, Pennsylvania registered investment advisers making a renewal with the Commission in accordance with Section 301(e) of the 1972 Act shall pay Filing Fees through IARD.

   4. This Order shall be published in the Pennsylvania Bulletin.

   5. The effective date of this Order shall be the date published in the Pennsylvania Bulletin.

   Alternative formats of this document may be available upon request. Call (717) 787-1165 or TDD Users: via AT&T Relay Center (800) 654-5984.


[Pa.B. Doc. No. 02-881. Filed for public inspection May 10, 2002, 9:00 a.m.]

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