The IARD system has three objectives: (1) to create a regulatory system for Investment Advisers to improve overall regulation of advisers, (2) to make information about Investment Advisers available to the public, and (3) to provide Investment Advisers an efficient automated filing system. The information provided via this Web page pertains to the third objective.
IARD is available from 7 a.m. to 11 p.m., Eastern Time (ET), Monday through Friday. IARD is not available on holidays in which FINRA is closed and is not available after 6 p.m., ET, on the business day immediately preceding some holidays. Weekend availability may vary due to software drops and monthly maintenance, refer to the Availability Schedule for more details. Also available are:
IARD Background Information
The Investment Adviser Registration Depository (IARD) is an electronic filing system for Investment Advisers sponsored by the Securities and Exchange Commission (SEC or Commission) and North American Securities Administrators Association (NASAA), with FINRA serving as the developer and operator of the system. The IARD system collects and maintains the registration, reporting and disclosure information for Investment Advisers and their associated persons. The IARD system supports electronic filing of the revised Forms ADV and ADV-W, centralized fee and form processing, regulatory review, the annual registration renewal process, and public disclosure of Investment Adviser information.
FINRA does not have regulatory authority over Investment Advisers; however, it was chosen to develop, operate, and maintain the system because of its regulatory business and technical expertise and the success of its Web-based licensing and regulation system, Web CRDSM, deployed in 1999. Web CRD is a state-of-the-art Web application for the registration of broker/dealers and their representatives. IARD provides regulators with the ability to monitor and process Investment Adviser information via a single, centralized system.
The SEC mandated its Investment Adviser registrants use the system to make all filings with the Commission (effective January 1, 2001). The IARD system satisfies the requirements of the National Securities Markets Improvement Act (NSMIA,1996), which authorized electronic system registration of Investment Advisers. For more information regarding NSMIA, see the "Regulatory and Legal Background Information about IARD".