IAR Registration Procedure
Chapters in this video
- 0:00 Ivan, Stan, and the three required application parts
- 1:56 Consent to service of process survives termination
- 3:27 Fee receipt required for application to be filed
- 3:57 Form U4 disclosures and 10-year employment history
- 4:53 Felony vs misdemeanor reporting on Form U4
- 5:52 Effective date: noon on the 30th day, never approved
- 6:43 Administrator acceleration and deferral powers
- 7:17 December 31 expiration regardless of start date
- 7:46 Automatic registration for partners, officers, directors only
- 8:56 Rapid-fire exam recap
What this video covers
- The three required components of an IAR application (Form U4, fee, and consent to service of process) and why the application is not "filed" until all three are received
- The scope of the consent to service of process: one-time, irrevocable, survives termination, and covers non-criminal suits under the USA
- Form U4 disclosure categories including the 10-year unbroken employment history rule and the distinction between reportable felonies and reportable misdemeanors
- The effective date rule at noon on the 30th day after filing, and why regulators never "approve" or "endorse" a registration
- Administrator powers to accelerate or defer effectiveness, including the reset trigger when an amendment is filed
- The December 31 expiration date for all IAR registrations regardless of initial registration date, and the IARD renewal process
- Automatic registration through the investment adviser's (IA's) own filing, who qualifies (partners, officers, directors only), and who still must file a separate Form U4
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. When you're ready to drill the topic, the full Series 63 course adds adaptive practice questions and spaced-repetition flashcards.
Start on this site: free Series 63 practice questions · Series 63 pass rate