WELCOME TO THE INVESTMENT ADVISER REGISTRATION DEPOSITORY
Welcome to the IARDTM website. This site provides investment adviser firms and representatives with a variety of information about the Investment Adviser Registration Depository (IARD) system. IARD is an electronic filing system that facilitates investment adviser registration, exempt reporting adviser filing, regulatory review, and the public disclosure information of registered investment adviser firms and individuals. FINRA is the developer and operator of IARD. The system has been developed according to the requirements of its sponsors, the Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA), along with those of an Industry Advisory Council representing the investment adviser firms.
Information about investment advisers for the investing public can be found on the Investment Adviser Public Disclosure (IAPD) website.
IARD/PFRD System Availability
IARD and PFRD are generally available from 5 a.m. to 11 p.m. ET, Monday through Friday. Please refer to the IARD/PFRD Availability Schedule for detailed weekend and holiday availability.
What's New on IARD
Please look to this area of the home page on a frequent basis for regular updates, new information, and documents about how to use IARD.
Annual Renewal Program
Preliminary Statements and reports are available in FINRA systems, and full payment must be posted by Monday, Dec. 11. Ensure your firm’s obligations are addressed by taking the following steps:
- Download and save or print the firm’s Preliminary Statement from E-Bill. You can also initiate an ACH payment and set up relevant email notifications while logged in.
- Download and save or print the Preliminary Statement reports in CRD and/or IARD before they are removed Jan. 2.
- Pay the entire statement amount in full. Do not make partial payments; this will result in registration terminations and late fees.
- Complete any registration adjustments before 6 p.m. ET on Dec. 26. You can use post-dated filings to request registration terminations effective Dec. 31. Any adjustments made between now and Dec. 26 will be reflected in the firm’s Final Statement published Jan. 2.
FINRA’s 2023 Entitlement User Accounts Certification Process
FINRA’s 2023 Entitlement Certification period is April 17 – June 19. During this period, Super Account Administrators (SAAs) for firms with more than one user and/or administrator account must certify that individuals have the appropriate level of access to FINRA systems required to perform their job responsibilities. Organizations with only an SAA account and no other users or administrators have the option to certify but are not required.
Please see the following pages for additional information:
- FINRA Entitlement Reference Guide
- Annual Entitlement User Accounts Certification Process
- FINRA Entitlement Program Frequently Asked Questions
System Release Notes
View explanations of recent and upcoming system changes in the release notes linked below:
See the Systems Updates page for more information.
Applying Regulatory Element CE to IAR CE Requirements
Investment adviser representatives (IARs) can apply Regulatory Element training to the Products and Practice requirement. Individuals can access the functionality through their FinPro (Financial Professional Gateway) accounts. If a firm would like to cover the Regulatory Element reporting fee for all individuals registered with their firm, they can opt in to the new IAR CE Regulatory Element/Products and Practice (PP) Fee firm setting in FINRA Gateway. More information is available in the Firm Settings Guide.
The Series 63, Series 65 and Series 66 qualification exams will only be available online for candidates who require a testing accommodation.
Payroll Protection Program and Form U4
On April 13, 2020, FINRA issued guidance (found in the Individual Registration Q&A section) stating that a registered person who obtains a loan under the Paycheck Protection Program (PPP) will not have to disclose a “compromise with a creditor” in response to Question 14K on Form U4 if the loan is wholly or partially forgiven under the terms of the PPP. The NASAA CRD/IARD Steering Committee consulted with FINRA regarding this guidance. We concur with it and further advise that the same guidance would apply to Question 14K on Form U4 for an investment adviser representative who obtains a PPP loan.
COVID-19 Update for Investment Adviser Representative (RA) Qualification Exam Candidates
COVID-19 guidance on FINRA-administered exams (Series 7, 65 and 66 for RAs*) has been posted. Information regarding test center availability, exam cancellations and enrollment window extensions will be updated as it becomes available. Please check frequently and encourage exam candidates to consult the page before enrolling, scheduling or sitting for their exams.
*Please note that FINRA administers state law exams on behalf of NASAA.
Protect Personal Information! Remember to only provide personal information about individuals in response to specific questions that solicit that information. When responding to more general questions that accept narrative responses, use terms that do not disclose personal information (including account numbers). Please review the guidance provided on the Protecting Personal Information in Form ADV Filings page for more information.
Investment Adviser Representative Fingerprint Submissions
FINRA does not process fingerprint transactions for investment adviser (IA) firms. An IA-only firm must submit fingerprints directly to those states that require a fingerprint check for an RA registration. Contact the applicable state to verify state fingerprint requirements. Fingerprint submissions received by FINRA from an IA-only firm will not be returned to the firm.
FINRA.org: Add to Safe-Sender Email List
FINRA is the operator of IARD on behalf of the IARD program sponsors which are the SEC and NASAA. In order to ensure consistent delivery of FINRA emails to your inboxes, please add our email domain, FINRA.org to your firm's safe-sender list as soon as possible. Please review this Subscriptions Help page for instructions on how to add email addresses/domains to your firm’s specific email application. If your email application requires you to enter individual email addresses to your safe-sender list in addition to, or in lieu of, an email domain, please add the following addresses:
Also, if you are an SEC-registered IA firm, please add: [email protected]
Form ADV-E Guidance for Independent Public Accountants
A quick reference guide to the Form ADV-E Surprise Examination Filing website is now available for independent public accountants conducting a surprise inspection of an investment adviser firm.
SEC Division of Investment Management: Electronic Filing for Investment Advisers on IARD
Visit the SEC website for information on IARD.