Securities

FEDERAL COVERED INVESTMENT ADVISERS

For Regulated Firms

Under federal law, any person with more than $25 million in assets under management who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities is considered a federal covered investment adviser.

These firms are registered with the U.S. Securities and Exchange Commission (SEC).
Information Regarding How To Register With The SEC

Federal covered investment advisers who conduct business in Illinois are required to make a notification filing with the Illinois Securities Department thru the Investment Adviser Registration Depository (IARD) system. Investment adviser representatives (IAR) employed by the federal covered investment adviser who have a place of business within Illinois, with limited exception, must also be registered.
Additional Information Concerning Requirements Affecting Investment Adviser Representatives

Federal covered investment advisers must file annually thru the IARD system to renew their notification filing with the Illinois Securities Department. Renewal periods run on a calendar year basis of January 1 – December 31.

Information regarding applicable notification and IAR registration fees can be found under the Fees section of this webpage.

Please refer to the administrative rules (Sections 130.805 through 130.873) of the Illinois Securities Law of 1953 for specific information concerning federal covered investment advisers.

For Consumers

Any federal covered investment adviser that you select to provide financial planning services or to manage your investments is required to be “notice filed” with the Illinois Securities Department. Individual investment adviser representatives employed by this firm that you deal with are required to be registered with the Illinois Securities Department, as well.

The Illinois Securities Department encourages you to be informed when making a decision about whom to select as your investment adviser. Use the following resource to access important information concerning the background and status of investment adviser firms.

Federal Covered Investment Advisers
Information Concerning The Background And Notification Filing Status Of Investment Adviser Firms

This information, which is offered free of charge to consumers, is provided from data maintained on the Investment Adviser Registration Depository (IARD). The U.S. Securities and Exchange Commission (SEC) maintains a website called “Investment Adviser Public Disclosure”, that draws upon the information maintained in the IARD system. The SEC website provides an on-line look at the Form ADV for each investment adviser. Form ADV is the common application form submitted by all investment advisers which discloses information concerning the adviser’s ownership, states in which it is registered, the amount of assets under management, disciplinary information, and other detailed information for each investment adviser.

Please also refer to the Consumer Information sections for additional assistance.

DISCLAIMER
The Secretary of State, Illinois Securities Department or their information providers shall not be liable regardless of the cause or duration, for any errors, inaccuracies, omissions or untimeliness of the information, or for any delay or interruption in the transmission thereof to the user, or for any claims or losses arising therefrom.