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Once Registered

Once Registered

Amendments

Amendment for Material Changes
Rule 451.4.10(4) states that an investment adviser shall, within 30 days of any event requiring an amendment, file electronically with IARD, pursuant to the instructions in the Form ADV, any amendments to the investment adviser’s Form ADV.

Annual Amendment
An investment adviser shall, within 30 days of any event requiring an amendment, file electronically with IARD, pursuant to the instructions in the Form ADV, any amendments to the investment adviser's Form ADV. Questions regarding the IARD system should be directed to the IARD Call Center at (240) 386-4848.

Within 90 days of the end of the investment adviser's fiscal year, an investment adviser shall file electronically with the IARD an annual updating amendment to the Form ADV.  Refer to Rule 451.4.10(4) & (5).

Net Worth and Bonding Requirements
Ensure that your firm is in compliance with the net worth requirements prescribed by Rule 451.4.17 promulgated under the Michigan Uniform Securities Act (MUSA), and file a surety bond with the Department, if required. Please see Rule 451.4.14 for additional information regarding surety bonds.

  • The surety bond shall be renewed and adjusted annually on December 31, and new evidence of surety shall be filed with the Department. The surety bond and/or correspondence should be submitted, by email, to lara-cscl-securities-audit@michigan.gov. Please be sure to include the firm’s CRD number.
  • If, at any time during registration, your firm's net worth falls below the requirements, you must notify CSCL by the close of business on the next business day. Please see Rule 451.4.17 for additional information.

Renew
If you intend to continue to conduct business in Michigan as a registered investment adviser, you must renew every year.  This includes all newly registered firms as well as existing firms.  See "Investment Advisers: How to Renew".


Contact Us:
Department of Licensing and Regulatory Affairs (LARA)
Corporations, Securities & Commercial Licensing Bureau (CSCL)
Securities and Audit Division
Phone: (517) 335-5237
Email: LARA-CSCL-Securities-Audit@michigan.gov