Here’s a quick note that will make RIAs happy in light of volatile markets.
The SEC and NASAA have announced that Investment Adviser Registration Depository (IARD) set-up and annual fees will be waived for 2009.
Here’s a clip from their announcement:
Washington, D.C. — The Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) today announced they will waive the initial set-up and annual system fees paid by investment adviser firms to maintain the Investment Adviser Registration Depository (IARD) system. Separately, NASAA announced that for next year it will also waive those system fees paid by investment adviser representatives (IARs).
The IARD has been free of these fees since 2007, in part to encourage the adoption of electronic filing and streamlined registration of Investment Advisers and their firms.
To see additional coverage of the fee waiver, read the Investment News article by Sara Hansard linked below:
http://investmentnews.com/apps/pbcs.dll/article?AID=/20081031/REG/810319995
