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Arizona Revised Statutes Title 44. Trade and Commerce § 44-3153. Application for licensure as investment adviser; notice filings by federal covered advisers

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Any person may apply for licensure as an investment adviser. The applicant shall sign an application for licensure.

B. An application for licensure as an investment adviser shall be filed with the commission through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.

C. An application for licensure shall contain the following, together with other information the commission prescribes:

1. A completed uniform application for investment adviser registration under the investment advisers act of 1940  1 together with other forms designated by the director.

2. Proof of compliance with written examination requirements.

3. Financial reports as required by the commission.

4. A notarized affidavit of any officer, director, partner, member, trustee or manager of the applicant that states:

(a) That a review of the records of the investment adviser has been conducted.

(b) Whether any investment adviser activity has been conducted with residents of this state before licensure as an investment adviser.

5. If the applicant intends to have a branch office in this state, the address and name of a contact individual at that branch office.

6. If the applicant is an individual and the applicant's fingerprints are not on file with the division, the CRD system or the IARD, a full set of fingerprints. The commission shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to § 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.

D. An application for licensure as an investment adviser shall be accompanied by payment of the licensure fee prescribed in § 44-3181.

E. A federal covered adviser may transact business in this state as an investment adviser if the federal covered adviser makes a notice filing with the commission through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.

F. The notice filing shall consist of all of the following:

1. Copies of those documents that are filed with the SEC and that the commission requires to be filed.

2. A consent to service of process.

3. A notice filing fee as prescribed in § 44-3181.

G. A notice filing is effective on compliance with the requirements of subsection E of this section and remains effective until December 31 unless it is renewed before that time by filing with the commission any renewal documents prescribed by the commission along with the notice filing fee prescribed in § 44-3181.

H. A federal covered adviser may terminate a notice filing by notifying the commission of that termination through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.

1 15 U.S.C.A. § 80b-1 et seq.
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Cite this article: FindLaw.com - Arizona Revised Statutes Title 44. Trade and Commerce § 44-3153. Application for licensure as investment adviser; notice filings by federal covered advisers - last updated January 01, 2025 | https://codes.findlaw.com/az/title-44-trade-and-commerce/az-rev-st-sect-44-3153/

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