N.M. Admin. Code § 12.11.5.9

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.11.5.9 - APPLICATION FOR INVESTMENT ADVISER REGISTRATION

A. Initial application. The application for initial registration as an investment adviser pursuant to Section 58-13C-406 A shall be made by completing the form ADV in accordance with the form instructions and by filing the form with the IARD. The application for initial registration shall also include the following:

(1) a financial statement demonstrating compliance with the requirements of 12.11.5.23 NMAC, if necessary;

(2) the fee required by Section 58-13C-410 C;

(3) for sole proprietors, proof of compliance by the applicant with the examination requirements of 12.11.5.14 NMAC unless such proof is available to the director through the CRD; and

(4) any other information required by the director.

B. Annual renewal. Pursuant to Section 58-13C-406 D, a registration is effective until midnight on December 31st of the year for which the application for registration was filed. An investment adviser may renew a registration through the IARD and shall pay the fee required by Section 58-13C-410 C.

C. Amendments.

(1) Pursuant to Section 58-13C-406 B, if the information or record contained in an application filed under this section is or becomes inaccurate or incomplete in a material respect, the registrant shall promptly file a correcting amendment in accordance with the instructions in the form ADV.

(2) An amendment will be considered to be filed promptly if it is filed within 30 days of the event that requires the filing.

D. Completion of filing. An application for initial registration or renewal is not considered filed for purposes of Section 58-13C-406 until the required fee and all additional information requested by the director has been received by the director.

N.M. Admin. Code § 12.11.5.9

12.11.5.9 NMAC - Rp, 12.11.5.8 NMAC, 1-1-2010