Form Adv (Paper Version) General Instructions Page 2
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35• Submit a final report as an exempt reporting adviser
3.
How is Form ADV organized?
Form ADV contains four parts:
• Part 1A asks a number of questions about you, your business practices, the persons who
own and control you, and the persons who provide investment advice on your behalf.
o All advisers registering with the SEC or any of the state securities authorities must
complete Part 1A.
o Exempt reporting advisers (that are not also registering with any state securities
authority) must complete only the following Items of Part 1A: 1, 2, 3, 6, 7, 10, and
11, as well as corresponding schedules. Exempt reporting advisers that are
registering with any state securities authority must complete all of Form ADV.
Part 1A also contains several supplemental schedules. The items of Part 1A let you know
which schedules you must complete.
o Schedule A asks for information about your direct owners and executive officers.
o Schedule B asks for information about your indirect owners.
o Schedule C is used by paper filers to update the information required by Schedules A
and B (see Instruction 18).
o Schedule D asks for additional information for certain items in Part 1A.
o Schedule R asks for additional information about relying advisers.
o Disclosure Reporting Pages (or DRPs) are schedules that ask for details about
disciplinary events involving you or your advisory affiliates.
• Part 1B asks additional questions required by state securities authorities. Part 1B
contains three additional DRPs. If you are applying for SEC registration or are registered
only with the SEC, you do not have to complete Part 1B. (If you are filing electronically
and you do not have to complete Part 1B, you will not see Part 1B).
• Part 2A requires advisers to create narrative brochures containing information about the
advisory firm. The requirements in Part 2A apply to all investment advisers registered
with or applying for registration with the SEC, but do not apply to exempt reporting
advisers. Every application for registration must include a narrative brochure prepared in
accordance with the requirements of Part 2A of Form ADV. See Advisers Act Rule 203-
1.
• Part 2B requires advisers to create brochure supplements containing information about
certain supervised persons. The requirements in Part 2B apply to all investment advisers
registered with or applying for registration with the SEC, but do not apply to exempt
reporting advisers.
4.
When am I required to update my Form ADV?
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