Effective registration

Once an investment adviser has submitted all the necessary paperwork and complied with general requirements, the state administrator will review their request. Let’s review the important items submitted:

• Form ADV disclosures
• Filing fees
• Consent to service of process
• Net worth requirements
• Surety bonds

If “all the boxes are checked,” the administrator will grant effective registration to the investment adviser, typically on the 30th day after filing at noon. Similar to broker-dealers and agents, the adviser may not imply their registration is approval from regulators.