Vermont > Secretary Of State > Blue Sky > Securities
Forms And Instructions For Filing Initial State Investment Adviser Applications In Vermont ISIAA - Vermont
| Forms And Instructions For Filing Initial State Investment Adviser Applications In Vermont Form. This is a Vermont form and can be used in Securities Blue Sky Secretary Of State . |
|
||||||
 Get this form for FREE as a print-only pdf |
|||||||
|
State of Vermont SECURITIES DIVISION Department of Banking, Insurance, Securities & Health Care Administratio n 89 Main St. Montpelier, VT 05620-3101 On-line Version FORMS AND INSTRUCTION FOR FILING INITIAL STATE INVESTMENT ADVISER APPLICATIONS IN VERMONT An application for initial registration as an investment adviser or inve stment adviser representative in Vermont will not be deemed filed until the require d fee and all required submissions have been received by the Vermont Securities Divisi on (the Division). Please be advised that failure to complete the applicati on procedure as set forth below may result in termination of the application without prejudi ce. Application fees will not be refunded or credited and a new fee will be required upo n refiling. YOUR APPLICATION MUST INCLUDE THE FOLLOWING: INSTRUCTIONS I. Investment Adviser Initial Registration 1) Part I of Form ADV filed via the Investment Adviser Registration Deposit ory (the "IARD"). 2) A non-refundable application fee of $250 submitted through the IARD. 3) A completed copy of Part II of Form ADV. 4) A copy of any document that the applicant may use in lieu of Part II of Form ADV. 5) Sample copies of all client contracts. 6) A copy of the investment advisers privacy policy. 7) A completed Affidavit of Investment Advisory Activity Form. 8) A completed Vermont Investment Adviser Tax Certification Form. 9) A current balance sheet: American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 2 a) An investment adviser having custody of client funds, assets or s ecurities must file a current audited balance sheet. b) An investment adviser having discretion over, but not custody of, client funds or securities, or requiring payment of fees six or more months in advanc e and in excess of $500 per client, must file a current certified balance shee t. c) An investment adviser having neither custody nor discretion is no t required to file a balance sheet. 10) The Vermont Surety Bond Form, if required. a) An investment adviser having custody of client funds or securitie s as described in Regulation S-95-1 must either meet a $35,000 minimum net worth requirement or post a bond in the amount of the net worth deficien cy, rounded up to the nearest $5,000. b) An investment adviser having discretionary authority over client assets as described in S-95-1 must meet a $10,000 minimum net worth requirement or post a bond in the amount of the net worth deficiency, rounded up to the nearest $5,000. 11) Demonstration of compliance with your home states net worth and bonding requirements. *** ***Vermonts balance sheet, net worth and bonding requirements are not applicable to an investment adviser registered or licensed in a state wh ere it maintains its principal place of business when it can demonstrate compli ance with such states requirements. II. Investment Adviser Representative Initial Registration 1) A Form U-4, filed via the Central Registration Depository (the CRD) , for each representative required to be registered. 2) A non-refundable application fee of $45, submitted through the CRD, for each representative required to be registered. 3) The Vermont Investment Adviser Representative Child Support and Tax Certification Form. 4) The Vermont Place of Business Form. PLEASE RETAIN A COPY OF ALL FORMS FOR FUTURE USE. III. Examination Requirements for Investment Adviser Representatives American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 3Effective January 1, 2000, an individual applying to be registered as an investment adviser representative shall provide the Commissioner with proof of obta ining a passing score on one of the following examinations: 1) The Revised Uniform Investment Adviser Law Examination (Series 65 examination); or 2) The General Securities Representative Examination (Series 7 ex amination) and the Uniform Combined State Law Examination (Series 66 examination). Grandfathering 1) Any individual who is registered as an investment adviser or investment adviser representative in any jurisdiction in the United States on January 1, 20 00 shall not be required to satisfy the examination requirements for continued registration, except that the Commissioner may require additional examinations for any individual found to have violated any state or federal securities law. 2) An individual who has not been registered in any jurisdiction f or a period of two (2) years shall be required to comply with the examinations requirements of this Regulation. Waivers The examination requirements shall not apply to an applicant who current ly holds one of the following professional designations: 1) Certified Financial Planner (CFP) awarded by the Certified Financial P lanner Board of Standards, Inc.; 2) Chartered Financial Consultant (ChFC) awarded by the American College, Bryn Mawr, Pennsylvania: 3) Personal Financial Specialist (PFS) awarded by the American Institute of Certified Public Accountants; 4) Chartered Financial Analyst (CFA) awarded by the Institute of Chartere d Financial Analysts; or 5) Chartered Investment Counselor (CIC) awarded by the Investment Counsel Association of America, Inc. IV. Renewals All investment adviser and investment adviser representative registratio ns expire on st December 31 of each year. American LegalNet, Inc. www.USCourtForms.com<<<<<<<<<********>>>>>>>>>>>>> 4Registration renewals for investment advisers must be filed annually thr ough the IARD. Investment advisers must also submit amendments to Parts I & II of Form ADV or, alternatively, provide the Division with a written statement that your c urrent Form ADV is accurate and does not require an amendment. Registration renewals for investment adviser representatives must be fil ed annually through the CRD. Each investment adviser representative must also provid e the Division with a new Vermont Investment Adviser Representative Child Support and T ax Certification Form, and Vermont Place of Business Form. V. Filing All non-IARD and non-CRD filings must be mailed or delivered to: Vermont Department of Banking, Insurance, Securities and Health Care Administration Securities Division 89 Main Street, Drawer 20 Montpelier, VT 05620-3101 American LegalNet, Inc. www.USCourtForms.com
|
|||||||
