Corporations Elections Licensing Securities

Investment Adviser Representatives


 Investment Adviser Representative [O.C.G.A. § 10-5-33]

Investment Adviser Representatives are generally principals of or persons employed by investment advisers or federal covered investment advisers that advise others as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities. Registration exemptions apply, especially with respect to Investment Adviser Representatives of federal covered investment advisers.  See section 10-5-2(19) of the Georgia Uniform Securities Act of 2008. If you have any questions as to whether you should register as an Investment Adviser Representative, you should consult legal counsel.

To register initially the following requirements must be completed:

1.  Registration Fee

The initial registration fee is $250.00.  See O.C.G.A. § 10-2-39(d).  The fee payment should be made through the IARD system on FINRA’s website.  The IARD system is located at http://www.iard.com.

2.  Uniform Application for Securities Industry Registration, Form U-4Submit a Form U-4 electronically through CRD for each representative to be registered in Georgia.

For additional information on submitting the U-4, please visit the Filing & Guidance  section of FINRA's website.

3.  Fingerprint Requirement

Below are instructions on the fingerprint process:

All applicants requesting registration as an investment adviser representative must submit fingerprints as required by O.C.G.A. § 10-5-35. 

If the registrant is a Georgia resident, he/she may go through Cogent to submit fingerprint cards.  Please visit their website at https://www.ga.cogentid.com/index.htm

Below is information that will be needed when completing the online registration:

  • ORI or OAC Number: GA922974Z
  • Verification Code: 922974Z
  • Reason: Sec of State – Broker-Dealers, Agents, Invest Advis/Sales Persons

Once the online registration is complete, the registrant will need to take the printout of the confirmation to a local vendor to have his/her fingerprints scanned.  You will find the location and hours of participating vendors at https://www.ga.cogentid.com/GA_regions_html/GA_Regions_Main.htm

Results will be processed in less than 48 hours and will be submitted directly to our office.  Once fingerprints have been scanned, no further action is necessary on the part of the registrant. 

If the registrant is not a resident of Georgia, he/she may submit a paper fingerprint card to 3M Cogent. You may submit your information here: https://www.ga.cogentid.com/index.htm

3M Cogent will scan the fingerprint card and submit the images to the state. 

Out of state applicants may submit a completed fingerprint card AND a money order or cashier’s check in the amount of registration. Please make it out to 3M Cogent.

Applicants MUST register ONLINE prior to registration. Applicants must include their Registration ID (obtained online during registration) on the back of the fingerprint card.

Submit the fingerprint card to:

  • 3 M Cogent
  • GAPS Cards Scan
  • 5025 Bradenton Avenue Suite 100
  • Dublin, OH 43017

Any fingerprint card that does not meet the expected submission standards for quality will be returned un-processed with the applicant payment. It is suggested you have two (2) fingerprint cards and submit them both for processing. In the event of a rejection, the second card can be utilized.

Any applicant who has active prints on file with FINRA is exempt from this fingerprint requirement.

For individuals who are not registered in Georgia as broker-dealer agents with cleared prints, please submit a screenshot of the results.

Please be advised that final determination as to the validity of these results lies with the Office of Secretary of State per verification. Please send a pdf of the screenshot by email to mgreen@sos.ga.gov AND cmurray@sos.ga.gov.

If you need for this office to provide the registrant with fingerprint cards, please send an email to mgreen@sos.ga.gov or cmurray@sos.ga.gov. Please be sure to include an address of where the cards should be sent to. 

If the registrant is a non-resident of Georgia and he/she would like to travel to Georgia to use Cogent that will be acceptable.

Please be advised that the application shall be deemed to be abandoned by the applicant if the Commissioner receives no communication from the applicant for a period of sixty (60) days after the applicant receives the deficiency letter.

4.  Examination Requirements

The examination requirement for investment adviser representative registration is satisfied with proof of a passing score on one of the two following sets of examinations:

1.  The Uniform Investment Adviser Law Examination (Series 65 examination); or

2.  The General Securities Representative Examination (Series 7 examination) and the Uniform Combined State Law Examination (Series 66 examination).

Please note that any individual who has not been registered in any jurisdiction for a period of two (2) years may be required to comply with the examination requirements listed above.
If assistance is needed for anything related to uploading forms to the IARD system, please call the FINRA Gateway Call Center at (240) 386-4848. This call center specializes in registration questions relating to the FINRA website.



Expiration and Renewal

Unless renewed, all investment adviser representative registrations (regardless of when permitted in the calendar year) expire on December 31st of each calendar year. The renewal fee is $100.00.  See O.C.G.A. § 10-5-39(d). Renewals should be submitted through IARD prior to expiration of registration.

FINRA publishes instructions on IARD renewal during the fall prior to expiration. If you do not receive instructions from FINRA regarding the renewal process during the fall you should contact the FINRA Gateway Call Center at (240) 386-4848 or the Georgia Securities Division at (478) 207-2440.

Please be advised: Failure to renew by December 31st will result in termination of your registration in Georgia. The Securities Division will NOT send out separate renewal notices to remind registrants of the renewal process


Contact

214 State Capitol
Atlanta, Georgia 30334
404.656.2881
E-Mail
© 2012 Georgia Secretary of State