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.
Attend the Upcoming New Update/Replace Super Account Administrator (SAA) Process Webinar
This webinar will provide an overview of two new self-service features: The first feature allows firms to replace their current SAA and grant SAA privileges to another user, and the second enables the SAA to update their account information (i.e., name and email address).
System Release Notes
View explanations of recent and upcoming system changes in the release notes linked below:
- Release Notes 2022.06 (June 25, 2022)
See the Systems Updates page for more information.
Applying Regulatory Element CE to IAR CE Requirements
The ability for investment adviser representatives (IARs) to apply Regulatory Element training to the Products and Practice requirement will become available June 30, 2022. 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.
FINRA's 2022 Annual Entitlement Certification Period
Each year, FINRA designates a period during which SAAs of organizations with more than one user must certify their users' access to comply with FINRA's Entitlement User Accounts Certification Process. This process provides a formal review of all user accounts in the FINRA Entitlement Program administered by an SAA. For 2022, the certification period is June 1 – August 31.
Additional information is available on the following pages:
- FINRA Entitlement Reference Guide
- User Accounts Certification Process for SAAs
- FINRA Entitlement Program Frequently Asked Questions
Reminder About Online Testing
The Series 63, Series 65 and Series 66 qualification exams will only be available online for candidates who require a testing accommodation.
Form BR Now Available in FINRA Gateway
Effective Jan. 24, 2022, branch registration forms are now available in the FINRA Gateway. Leveraging the modern data collection interface, users can create an Initial Form BR from the firm profile and amend or close specific branches from the related Branch Profile. The Classic CRD experience will continue to be available until May 1, 2022. Watch the recording of a webinar held in Dec. 2021 to learn about preview key features of the enhanced filing process.
End-Of-Life Operating Systems Blocked April 30
Access devices running end-of-life operating systems will be blocked from accessing FINRA applications effective April 30, 2022. After that date, you will not be able to access FINRA applications with the affected system until you upgrade to a supported version of the operating system. Please consult your IT provider for more information related to end-of-life operating systems.
Please contact the FINRA Gateway Call Center if you have questions or concerns about this implementation.
Supported Operating Systems
Windows 10 Version 2004 or newer
Mac OS X 10.15 or newer
Ohio AG and RA Registration Rule Changes
Effective Sept. 30, 2021, the State of Ohio (OH) requires qualification exams for AG and RA registrations requested on Form U4 submissions.
- AG registrations will require reps to pass the Series 63 exam.
- RA registrations will require passing the Series 65 exam.
This rule change will not affect individuals who are currently registered or eligible to re-register in Ohio. For additional information on the rule changes, visit the Ohio Department of Commerce's Proposed Rules page.
Form U5 and Other Classic CRD Features Retired Aug. 21, 2021
Several Classic CRD features retired Aug. 21.
All other current Classic CRD functionality continues to be supported. Form U5 drafts not submitted before Aug. 21 have been invalidated, but a read-only version was made available through Sept. 25 in Classic CRD.
Retirement dates for other Classic CRD and IARD functionality will be announced as they become available. Learn more about IA system access, including timelines and features, on the FINRA Gateway page.
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.
Enhanced Entitlement Security Feature — Multi-Factor Authentication (MFA) Rollout
Multi-Factor Authentication (MFA) continues to be rolled out to firms' Super Account Administrators and Account Administrators. In 2020, FINRA began deploying this new security feature as an additional layer of security to verify user identity. MFA is an authentication method in which a user is granted access to FINRA-operated systems (e.g., IARD, CRD) only after successfully providing two pieces of identifying information:
- existing FINRA system (IARD/CRD) credentials (user name and password); and
- new MFA security feature (three options to provide second authentication factor):
- mobile application,
- text message, or
- phone call.
For more information, visit the Multi-Factor Authentication page.
Browser Support Update
Effective April 4, 2020, FINRA ceased to support Internet Explorer 11 for the IARD, PFRD and CRD systems. You or your firm should upgrade your web browser if it does not meet or exceed the following minimum browser requirements. You can check your current web browser at https://whatsmybrowser.org.
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.