Investment Adviser Representatives [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 makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or holds herself or himself out as providing investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing. See section 10-5-2(19) of the Georgia Uniform Securities Act of 2008 for definition. Registration exemptions apply. See section 10-5-33 of the Georgia Uniform Securities Act of 2008.
How To Register
Requirements For Registering as an Investment Adviser Representative
The initial registration fee is $255.00. See O.C.G.A. § 10-5-39(d). The fee payment should be made through the IARD system on FINRA’s website.
Submit 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.
All applicants requesting registration as an investment adviser representative must submit fingerprints as required by O.C.G.A. § 10-5-35. See Securities and Charities Division guidance on how to submit fingerprints.
Unless otherwise waived by the Commissioner, an investment adviser, registered or required to be registered pursuant to Section 10-5-32, or an investment adviser representative, registered or required to be registered pursuant to Section 10-5-33, shall take and pass within the two-year period immediately preceding the date of the application, except in regards to the Securities Industry Essentials (SIE) Exam which the applicant shall take and pass within the four-year period immediately preceding the date of the application:
(a) The Uniform Investment Adviser State Law Examination (Series 65); or
(b) The Uniform Combined State Law Examination (Series 66), the Securities Industry Essentials (SIE) Exam, and the General Securities Representative Examination (Series 7/S7TO).
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 (301) 869-6699. This call center specializes in registration questions relating to the FINRA website.