REQUIREMENTS FOR APPLICATION

• Investment Adviser (Firms only)
• Representatives of Investment Advisers (Individuals)
• Renewal
• Withdrawal

REQUIREMENTS FOR INVESTMENT ADVISERS (Firms only)

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

In general, advisers who have less than $100 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 Securities Division, all filings are to be made through 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 IARD website. 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.

Submission of Form ADV Part II in IARD- 

• Initial applicants for investment adviser registration in Nevada are now required to submit Form ADV Part II through IARD with their initial filings
• Form ADV Part II may now be submitted to IARD as a searchable text, portable document format (PDF) file. Guidance on how to use this new functionality is available on the IARD website.
• Form ADV Part 2 (IARD System Instructions) http://www.iard.com/part2instructions.asp 
• Current investment adviser registrants in Nevada may begin submitting Form ADV Part II through IARD immediately in lieu of sending paper filings to the Securities Division. 

REQUIREMENTS FOR REPRSENTATIVES OF INVESTMENT ADVISERS (Individuals)

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

1. Filing Fee of $110.00 for initial application and renewal will be deducted from the CRD/IARD account set up by the firm.
2. 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:
3. 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).

NEVADA's REQUIREMENTS FOR INVESTMENT ADVISERS (Firms and Individuals)

1. Child Support Statement Form
2. At least one Officer/Director must file a Form U4
3. Form ADV Part 2 Brochure
4. Form ADV Part 2A (Wrap Fee Program Supplement)
5. Form ADV Part 2B (Supplement For Supervised Persons)
6. Copies of all client agreements to be used with Nevada clients
7. Copies of all invoices to be used with Nevada clients
8. Copy of the lease for office/residence serving as principal office/place of business
9. Copy of the Firm’s Nevada State Business License (Silverflume)
10.  Copy of the Firm’s fictitious firm name filed with the Nevada county in which it principally does business
11. Copy of the Firm’s Code of Ethics, Policies and Procedures, and Continuity Plan

The REQUIREMENTS FOR APPLICATION section outlined above 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 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.

RENEWAL (Firms and Individuals)

Fees
In November of each year you will receive a renewal notice from 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.

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 IARD that you will be "Notice Filing" or State licensed. The fee will be deducted from your IARD account.

Additional information for new investment advisers and new investment adviser representatives may be obtained through the North American Securities Administrators Association and the Securities and Exchange Commission.  

Questions regarding the application, renewal, and withdrawal of IAs and IARs may be directed to Tim Eacobacci, Securities Examiner; Mr. Eacobacci may be reached at 702-486-2440 or via his direct line at 702-486-5245.

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