S.D. Admin. R. 20:08:05:16

Current through Register Vol. 50, page 162, June 24, 2024

Section 20:08:05:16 - Notice filing requirements for federal covered investment advisers

The notice filing for a federal covered investment adviser pursuant to SDCL 47-31B-405(a) of the Act shall be filed electronically with IARD on an executed Form ADV [17 C.F.R. 279.1] (Uniform Application for Investment Adviser Registration). A notice filing of a federal covered investment adviser shall be deemed filed when the fee required by SDCL 47-31B-410(e) and the Form ADV are filed electronically with and accepted by IARD on behalf of the state.

(1) Form ADV Part 2 (Uniform Requirements for the Investment Adviser Brochure and Brochure Supplements). The director may:

(a) Accept a copy of Part 2 of Form ADV as filed electronically with IARD; or

(b) Deem Part 2 of Form ADV filed if a federal covered investment adviser provides, within 5 days of a request, Part 2 of Form ADV to the director. Because the director deems Part 2 of Form ADV to be filed, a federal covered investment adviser is not required to submit Part 2 of Form ADV to the director unless requested.

(2) Renewal. The annual renewal of the notice filing for a federal covered investment adviser pursuant to SDCL 47-31B-405(c) shall be filed electronically with IARD. The renewal of the notice filing for a federal covered investment adviser shall be deemed filed when the fee required by SDCL 47-31B-410(e) is filed with and accepted by IARD on behalf of the state.

(3) Updates and amendments. A federal covered investment adviser must file electronically with IARD, in accordance with the instructions in the Form ADV, any amendments to the federal covered investment adviser's Form ADV.

S.D. Admin. R. 20:08:05:16

37 SDR 112, effective 12/9/2010.

General Authority: SDCL 47-31B-405(a) and (c), 47-31B-410(e) and (f), 47-31B-605(a)(1), 47-31B-605(b), 47-31B-608(c)(1).

Law Implemented: SDCL 47-31B-103, 47-31B-405(a) and (c), 47-31B-410(e) and (f).