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Checklist For Missouri Broker-Dealer Applicants CMBDA - Missouri
| Checklist For Missouri Broker-Dealer Applicants Form. This is a Missouri form and can be used in Securities Blue Sky Secretary Of State . |
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ROBIN CARNAHAN JAMES C. KIRKPATRICK STATE INFORMATION CENTER (573) 751-4936 SECRETARY OF STATE STATE OF MISSOURI MATTHEW KITZI COMMISSIONER OF SECURITIES (573) 751-4136 Investment Adviser Registration Checklist for State-Covered Investment Advisers.................................... p. 2 Initial State-Covered Investment Adviser Filing Procedures........................ p. 3 Initial Federal Covered Investment Adviser Filing Procedures..................... p. 6 Post-Effective Requirements for Investment Advisers............................... p. 8 Investment Adviser Renewal Filing Procedures....................................... p. 10 Investment Adviser Registration Depository.......................................... p. 11 Frequently Asked Questions............................................................. p. 12 600 W. MAIN ST., PO BOX 1276 · JEFFERSON CITY, MISSOURI · 65102 www.sos.mo.gov American LegalNet, Inc. www.FormsWorkFlow.com Checklist for State-Covered Investment Advisers The following questions may help you in the completion of your state-covered investment adviser registration filing. Be sure to also read the filing procedures included in this packet. Note: This checklist is for your convenience only. You do not need to send it back to the Missouri Securities Division. _____ Did you submit the $200 investment adviser registration fee and a $50 investment adviser representative registration fee for each individual to the IARD system? _____ Did you complete and submit Parts 1 and 2 of Form ADV to the IARD system? _____ If Item 5E (6) of Part 1A regarding Performance-Based Fees is marked, have you included the additional information required? _____ If you responded "yes" to Item 9A or B of Part 1A regarding custody of client funds, did you provide the correct information on Schedule D as indicated in the Initial StateCovered Investment Adviser Filing Procedures? _____ Does Item 1 of Part 1B reflect a check in the "MO" jurisdiction box? _____ If you directly or indirectly compensate any person for client referrals, have you included the following statement? "Applicant's referral agreement is in compliance with Federal Regulations. As set out in 17 CFR Section 275.206(4)-3, and in each state where state law requires, each client is given a copy of the referral agreement prior to or at the time of entering into any advisory contract." _____ Did you submit Forms U-4 for each investment adviser representative, including the chief compliance officer, with a mark in the "MO" jurisdiction box? _____ Did you mail an originally signed, recently dated, notarized State Covered Investment Adviser Affidavit (Form SADV-1) to the Missouri Securities Division? _____ If required, did the investment adviser register with the Missouri Corporations Division? _____ Did you include a verified balance sheet prepared within 30 days of filing? _____ Did you list the name of the investment adviser's chief compliance officer in your cover letter and include this designation on your State Covered Investment Adviser Affidavit? _____ Did you provide copies of the following documents to the Missouri Securities Division? A sample or copy of the written agreement the applicant intends to enter into with any client relating to the business of the applicant; a sample or copy of any solicitor agreements the applicant intends to utilize (if applicable); Private Placement Memorandum(s), Limited Partnership Agreement(s), Subscription Agreement(s), and Gatekeeper Arrangement(s) if a Pooled Investment Vehicle or Hedge Fund is to be involved, or any agreement similar to the above (if applicable). Missouri Investment Adviser Registration, p. 2 American LegalNet, Inc. www.FormsWorkFlow.com INITIAL STATE-COVERED INVESTMENT ADVISER FILING PROCEDURES State-covered advisers requesting to register in Missouri shall submit the following: To the IARD System: 1. The initial registration fee of $200. 2. A completed Part 1 and 2 of Form ADV along with any applicable schedules. a. If Item 5E (6) Performance-based fees of Part 1A is marked, additional information is required. Missouri law allows performance-based compensation arrangements only if certain conditions are met. You must provide a statement with your application that describes how the investment adviser will comply with 17 CFR Section 275.205-3 and 15 CSR 30-51.145. b. If Item 9A or B of Part 1A regarding custody of client funds is answered "yes," additional information is required. Under 15 CSR 30-51.100, an investment adviser may have custody or possession of the funds or securities of a client provided that the investment adviser maintain custody or possession in accordance with the requirements set forth in 17 CFR Section 275-206(4)-2(a)(1)-(4). Schedule D of Form ADV must outline how this requirement will be met. c. Part 1B, Item 1 should include a check in the "MO" jurisdiction box. d. If you directly or indirectly compensate any person for client referrals, the following language must be included: "Applicant's referral agreement is in compliance with Federal Regulations. As set out in 17 CFR Section 275.206(4)-3, and in each state where state law is requires, each client is given a copy of the referral agreement prior to or at the time of entering into any advisory contract." To the CRD System: 1. Form U-4 for each investment adviser representative, including the chief compliance officer. a. The RA "MO" jurisdiction box in Section 5 should be marked. b. Individuals must have passed the appropriate examinations: the Series 65 or both the Series 66 and 7. 2. Filing fee of $50 for each investment adviser representative. Note: Investment advisers are required to maintain the registration of at least one investment adviser representative. Failure to do so may result in the cancellation of the investment adviser's Missouri registration. Missouri Investment Adviser Registration, p. 3 American LegalNet, Inc. www.FormsWorkFlow.com To the Missouri Securities Division: 1. Form SADV-1, the State Covered Investment Adviser Affidavit (copy available at www.sos.mo.gov). a. The affidavit must be originally signed by a principal and notarized. 2. You may be required to register with the Missouri Corporations Division, or be eligible for an exemption or exclusion from the registration requirements as listed in the Missouri Corporation laws. a. You may contact the Missouri Corporations Division to request copies of their registration forms by calling (573) 751-4153. S
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