The SEC has proposed that ADV forms filed by registered investment advisers be made publicly available for free on the Internet. The proposal would require the 8,000 SEC-registered advisers and the 12,000 state-registered advisers to file electronically. The filings then would become accessible on a joint Internet site being built and operated by NASD Regulation under contracts with the SEC and the North American Securities Administrators Association.
The new system will permit investment advisers to satisfy filing obligations under state and federal laws by making a single electronic filing.
Investment adviser filings, which don’t appear on the SEC’s online EDGAR system, ‘‘are not easily accessible or widely available from other sources,’’ the proposal noted. All investment advisers currently make filings with the SEC and states on paper.
The comment period for the proposal ends June 13.
