SEC Seeks to Extend Form ADV for Adviser Registrations Smoothly
Published Date: 5/15/2026
Notice
Summary
The SEC is asking to keep using Form ADV, the key form investment advisers fill out to register and share important info with clients. This form helps clients understand who’s managing their money and lets the SEC keep an eye on advisers. They’ve updated how they calculate costs but don’t plan big changes or new fees—just a smooth extension of the current process.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Advisers Continue Filing Form ADV
Investment advisers registered with the SEC and exempt reporting advisers must continue to file Form ADV. The SEC reports about 16,442 registered advisers and 6,389 exempt reporting advisers as of December 31, 2025, and estimates the annual reporting and recordkeeping burden is 10.85 hours per respondent, for a total annual burden of 251,851.53 hours.
Client Disclosures Remain Available
Form ADV continues to provide disclosures to advisers' clients and prospective clients about the adviser's business, conflicts of interest, and personnel so clients can decide whether to hire and manage a relationship with an adviser.
Extension With No New Fees Planned
The SEC proposes to submit the existing Form ADV collection to OMB for extension and approval and, per the notice, continues the current collection process without proposing substantive changes or new fees to the filing process.
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