Securities

INVESTMENT ADVISER REPRESENTATIVES

For Regulated Firms

Registration as an investment adviser representative is accomplished through the filing of an initial, or amended, Uniform Application for Securities Industry Registration (Form U4) on the Central Registration Depository (CRD) system by the employing state registered or federal covered investment adviser. Additionally, payment of the required registration fee for each investment adviser representative, and proof of passage of the required examinations or attainment of an accepted professional designation is required. Please refer to the administrative rules a (Section 130.843) of the Illinois Securities Law of 1953 for specific requirements concerning investment adviser representative examination and professional designation requirements.

Information regarding IAR registration fees can be found in the Fees section.

Any changes that render material information on the investment adviser representative’s application inaccurate, must be corrected by filing an amendment to Form U4 on the CRD system within 10 business days after the change occurs.

For Consumers

An investment adviser representative refers to a person who is employed by a state registered or federal covered investment adviser and who makes any recommendations or otherwise renders advice regarding securities; manages accounts or portfolios of clients; determines what recommendations or advice regarding securities should be given; or supervises any employee who performs any of the foregoing.

Investment adviser representatives (with limited exceptions) are required to be registered in Illinois when doing business within the state. Be certain before selecting an investment adviser representative that the individual is properly registered. In order to become registered with the Illinois Securities Department, investment adviser representatives must show proof of passage of the required qualifying examinations, or have attained an accepted professional designation. Be aware that the use of some designations, such as “ Certified Senior Advisor”, does not qualify a person to provide investment advice under Illinois law.

The Illinois Securities Department offers free information to consumers to assist in reviewing the qualifications of an investment adviser representative.

Obtain a copy of a Central Registration Depository (CRD) report concerning an investment adviser representative directly from the Illinois Securities Department. The report provides information concerning the investment adviser representative’s employment history, securities examinations the representative has passed, licensing or registration status in Illinois or other applicable states and disciplinary history. To obtain a copy, call the Securities Department at 800-628-7937, or email your request to one of our investment advisory specialists at lbednarko@ilsos.net. When requesting information about an individual, please be sure to include the individual’s first and last name, the name of the investment adviser firm where the individual is employed, and address where the individual conducts business. Please include your fax number or postal address for mailing of the requested report.

Please also refer to theConsumer Information section for additional assistance.