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Investment Adviser Representatives: Once Registered

Investment Adviser Representatives: Once Registered

  1. Amendments: Any amendments to the IAR's Form U-4 should be submitted electronically through the CRD System.  An IAR is required to promptly file any changes to his/her U-4 Form.

  2. Mass Transfer: Firms may mass transfer IAR's from one firm to another. Michigan has a mass transfer fee of $65.00 per IAR. FINRA will notify Michigan when the transfer takes place, and the fees will be deducted automatically from the firm's account. 

  3. Renewal fees: Payments are processed through the CRD/IARD system. The renewal fee is $65.00 per IAR. The fee is deducted automatically from the firm's account based upon the renewal timetable set up each December by FINRA.  All firms are notified by FINRA well in advance of the renewal fee deadlines and should have adequate monies in their account to cover all fees due. Failure to pay the renewal fee will result in an IAR's registration being automatically terminated through the CRD System.