SEC Renews Forms for Far-Flung Investment Advisers Quietly
Published Date: 1/30/2025
Notice
Summary
The SEC wants to keep using Rule 0-2 and Form ADV-NR, which help them track and take action against investment advisers who live outside the U.S. but do business here. About 41 non-resident partners or agents file this form yearly, spending about an hour each, with no extra costs. The SEC is asking for public comments before extending this paperwork requirement.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Mandatory Form ADV-NR Filing Burden
If you are a non-resident general partner or non-resident managing agent of an SEC-registered or exempt reporting investment adviser, you must file Form ADV-NR. The SEC estimates 41 Form ADV-NR filings per year, each taking about 1 hour to complete, for a total annual burden of 41 hours, and the rule and form are mandatory.
Form ADV-NR Filings Are Public
Information filed under Rule 0-2 and Form ADV-NR is a filing with the Commission and is not kept confidential. If you file Form ADV-NR as a non-resident partner or agent, your filing will be publicly available.
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