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IAPD provides information on Investment Adviser firms regulated by the SEC and/or state securities regulators

Part 2 of Form ADV consists of a series of items that contain disclosure requirements for your firm’s brochure and any required supplements. The items require narrative responses. You must respond to each item in Part 2.

Q: When responding to Item 2 of Form ADV Part 2A, is providing a list of material changes sufficient or must I discuss such material changes? A: An adviser must identify and discuss material changes; in the staff’s view, providing a list of material changes is not a sufficient discussion of material changes.

2022年7月14日 · Part 2 of SEC Form ADV serves as a brochure for the firm. It provides disclosures about key information about the company, including its business practices, fees, conflicts of interest, and...

2016年6月24日 · Part 2 requires investment advisers to prepare narrative brochures that include plain English disclosures of the adviser’s business practices, fees, conflicts of interest, and disciplinary information. The brochure is the primary disclosure document for investment advisers.

2024年2月23日 · Part 2 of SEC’s Form ADV is intended to provide clients with the details they need to make an informed decision about a potential investment advisor. It also aims to protect clients from dealing with unreliable firms.

Part 2 is the section of Form ADV that contains information about Investment Adviser firms and the type of business they conduct. Firms are required to provide Part 2 of Form ADV to existing and prospective clients.

Part 2, adopted by the SEC in July 2010, replaces Part II of Form ADV and changes the format to a “plain English” narrative format instead of a check-the-box format. Additionally, the adopting release and rules require electronic filing of the form on IARD and require brochure supplements for certain supervised persons be provided to clients.

On July 21, the Securities and Exchange Commission adopted changes to Form ADV, Part 2, the principal disclosure document that registered investment advisers must provide to their clients and prospective clients.1 Under new Form ADV, Part 2, the disclosure document is divided into three distinct components: the firm “brochure” (Part 2A ...