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Summary Of Nebraska Investment Adviser Registration Requirements IARR - Nebraska
| Summary Of Nebraska Investment Adviser Registration Requirements Form. This is a Nebraska form and can be used in General Blue Sky Secretary Of State . |
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Summary of Nebraska Investment Ad viser Registration Requirements Nebraska Department of Banking and Finance Commerce Court http://www.ndbf.org/ 1230 O Street, Suite 400 Bureau of Securities PO Box 95006 402-471-3445 Lincoln, NE 68509-5006 402-471-2171 The following information is provided to assist in preparing an application for initial investment adviser registration in Nebraska: 1. INVESTMENT ADVISER A PPLICATION REQUIREMENTS The application for initial registration as an investment adviser pursuant to Section 81103(3) of the Act shall -be filed with the Nebraska Department of Banking and Finance and shall contain the following information: (a) A $200.00 application fee is to be paid directly to the NASD/IARD. See Item 6 on Page 2 for additional information on the payment of fees; (b) COMPLETE the current FORM ADV and all applicable schedules: 1. Form ADV, Part I and the applicable schedules A-Dmust be submitted electronically through the Investment Adviser Registration Depository (IARD); 2. Form ADV, Part II and the applicable schedules F-H shall be submitted directly to the Department along with the following documents; (c) An executed AFFIDAVIT OF INVESTMENT ADVISER ACTIVITY IN NEBRASKA (available at http://www.ndbf.org/forms/invadvaff.pdf ); (d) A CURRENT AUDITED FINANCIAL STATEMENT is required if your firm has custody of client funds. If not, then CERTIFa IED BALANCE SHEET can be submitted in lieu of the audited financial statement. These financial statements cannot be more than 90 days old; (e) A copy of the investment advisersARTICLE S OF INCORPORATION , articles of partnership, or LLC membership agreement that shows the current legal name of the applicant; (f) The CORPORATE RESOLUTION which allows the firm to participate in the investment adviser business in Nebraska. Entities that are organized in a form other than a corporation, such as a partnership or LLC, need not file a resolution (form available at http://www.ndbf.org/forms/invadvcr.pdf ); (g) A SURETY BOND issued in the amount of $25,000 (form available at http://www.ndbf.org/forms/secbond.pdf), except for an investment adviser which maintains net capital, as determined by 48 NAC 7.008.03, in excess of $25,000; (h) Form IAR Designation of Investment Adviser Representatives (form available at http://www.ndbf.org/secforms.ht); m (i) Specimen Contract and/or Agreements; and (j) Promotional and/or Disclosure Literature (if using Part II in lieu of this item, please note in your cover letter). If there are any questions regarding the use of theIARD system, please visit the following Web-sites: Web IARD Users Manual: ht tp://www.iard.com/pdf/firm_users_man.pdf Investment Adviser Registration Depositoryhttp:/: /www.iard.com American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2 NEBRASKA INVESTMENT ADVISER APPLICATION REQUIREMENTS Continued 2. FOREIGN CORPORATIONS In certain instances, an investment adviser may be require to rd egister as a foreign corporation in Nebraska. If you have questions about requirements for registering as ra foeign corporation in Nebraska, contact the Secretary of States office at (402) 471-4079 (website address ishttp://w ww.nol.org/SOS). 3. AMENDMENTS TO FORM ADV 1. All amendments to Form ADV Part I are to be filed on Web IARD. Hard copies need not be filed directly with the Department. 2. All amendments to Form ADV Part II are to be filed directly with the Department. 4. REPRESENTATIVES Any person providing investment advice or soliciting clients on behalf o a stf ate registered investment adviser must be registered as an investment adviser representative. All applications for registration or termination of representatives in Nebraska should file the Form U-4 or Form U-5 through the Web IARD/CRD system. An investment adviser is responsible for the actions its r of epresentatives and employees and must maintain adequate supervision and control over its representatives. Representatives of an investment adviser may not advertise themselves under any other name unless that entity is properly registered. See 48 NAC 9 of the Rules of the Department of Banking and Finance for additional information (http://www.sos.state.ne.us/business/regsearch/Rules/Banking_And_Finance_Dept_of/Title- 48/Chapter-9.pdf). 5. ANNUAL RENEWALS All investment advisers and representative registrationsex pire annually on December 31. The Department will send a renewal notice in mid-October to all state registrants specifying which amended documents are to be submitted to the Department for renewal. Renewal fees are $200for an.00 investment adviser and $40.00 per representative. Renewal payments need to be processed through Web IARD. Any form submitted through the IARD shall be deemed filed with the Department when the record is transmitted to the Department for review. Please refer to 48 NAC 7.003 of the Rules of the Department for additional information regarding annual renewals (http://www.sos.state.ne.us/business/regsearch/RulBes/anking_And_Finance_Dept_of/Title-48/Chapter-7.pdf ). 6. PAYMENT OF FEES Application and renewal fees for state gistrant refirms and their representatives must be paid through Web IARD. It is important that firms and represetatives verify thatn there are adequate funds in their daily and/or renewal accounts to cover pertinent fees. If you have additional questions concerning Nebraskinvestmenta adviser registration requirements, you may contact Staff Assistant Marcia Greve at (402) 471-3445 or via email at Marcia.Greve@bkg.ne.gov. MAG 10-15-2004 Securities/I.A. Shared 2 American LegalNet, Inc. www.USCourtForms.com
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