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Office of the Kansas Securities Commissioner
Investment Adviser Registration Requirements

Effective December 19, 2008
Initial Form ADV's along with appropriate fees should be filed with the IARD (www.iard.com). The investment adviser firm registration fee is $100 and the registration fee for each Investment Adviser Representative is $55 (*see note below). This checklist outlines provisions of K.A.R. 81-14-1 (as amended August 15, 2008), K.A.R. 81-14-2 (as amended December 19, 2008) and K.A.R. 81-14-9 (as amended August 15, 2008) for registration of investment adviser firms and representatives. Please refer to those regulations for specific information about the registration requirements for investment advisers.
The initial application review may take up to 45 days.

Attention:  Federal Covered Investment Advisers switching to state registration:

All of the requirements for initial registration as a Kansas State registered investment adviser must be met.  If your federal registration has expired, you could be unregistered if the State of Kansas has not yet made your application effective.

Each applicant for initial registration as an investment adviser (whether a corporation, partnership or sole proprietor) must:

A. File Form ADV Parts I and II with all applicable schedules and the appropriate fees electronically with the IARD (www.iard.com). 

Click here for additional instructions for Part II.

B. Send the following items to Kansas:

1. If applicant has custody or discretionary authority, a copy of the Surety Bond as required by K.A.R. 81-14-9(e).  Form KSC-B (Uniform Surety Bond Form) or a form which contains the same information may be used.

2. Financial statements verifying adjusted net worth, as required by K.A.R. 81-14-9.

3. Copy of advisory contract form(s) to be used for Kansas clients.

4. Copy of Brochure, other than Form ADV Part II, if one is used.

5. Copy of the adviser’s supervisory procedures.

6. Privacy Policy as required by K.A.R. 81-14-5(d)(12)(B)

7. Copy of the qualified custodian’s new account form that includes the 3rd party trading authority.

8. Identification of one or more individual investment advisory representatives who will serve clients in Kansas pursuant to K.A.R. 81-14-1(a)(3) as outlined below.

Each individual investment advisory representative must:

1. File Form U-4 and appropriate fees electronically with the CRD.
2. IA representatives must meet certain examination requirements.

Note: The firm registration fee of $100 is the only fee required of single/sole practitioners.  This does not relieve the investment adviser from filing a U4 application to register as an investment adviser representative.

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