<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns="http://www.w3.org/TR/REC-html40"> <head> <title>Rule 20:08:05:16 Notice filing requirements for federal covered investment advisers.</title> <META NAME="Keywords" Content="Administrative Rules 20:08:05:16"> <META NAME="Description" Content="Administrative Rules 20:08:05:16 Notice filing requirements for federal covered investment advisers."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=ProgId content=Word.Document> <meta name=Generator content="Microsoft Word 10"> <meta name=Originator content="Microsoft Word 10"> <link rel=File-List href="2008050001600d_files/filelist.xml"> <!--[if gte mso 9]><xml> <o:DocumentProperties> <o:Author>lrpr14533</o:Author> <o:LastAuthor>lrpr14296</o:LastAuthor> <o:Revision>2</o:Revision> <o:TotalTime>1</o:TotalTime> <o:Created>2011-11-09T16:18:00Z</o:Created> <o:LastSaved>2011-11-09T16:18:00Z</o:LastSaved> <o:Pages>1</o:Pages> <o:Words>285</o:Words> <o:Characters>1631</o:Characters> <o:Company>State of South Dakota</o:Company> <o:Lines>13</o:Lines> <o:Paragraphs>3</o:Paragraphs> <o:CharactersWithSpaces>1913</o:CharactersWithSpaces> <o:Version>10.6870</o:Version> </o:DocumentProperties> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:PunctuationKerning/> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; text-align:justify; mso-pagination:widow-orphan; tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in; font-size:12.0pt; mso-bidi-font-size:10.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> </style> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri;} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="2050"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US style='tab-interval:.5in'> <div class=Section1> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>20:08:05:16.&nbsp;&nbsp;Notice filing requirements for federal covered investment advisers.</b> The notice filing for a federal covered investment adviser pursuant to SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-405">47-31B-405(a)</A> of the Act shall be filed electronically with IARD on an executed Form ADV [17 C.F.R. 279.1] (Uniform Application for Investment Adviser Registration). A notice filing of a federal covered investment adviser shall be deemed filed when the fee required by SDCL 47-31B-410(e) and the Form ADV are filed electronically with and accepted by IARD on behalf of the state.</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <p class=MsoNormal>(1)&nbsp;&nbsp;Form ADV Part 2 (Uniform Requirements for the Investment Adviser Brochure and Brochure Supplements). The director may:</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>(a)&nbsp;&nbsp;Accept a copy of Part 2 of Form ADV as filed electronically with IARD; or</p> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>(b)&nbsp;&nbsp;Deem Part 2 of Form ADV filed if a federal covered investment adviser provides, within 5 days of a request, Part 2 of Form ADV to the director. Because the director deems Part 2 of Form ADV to be filed, a federal covered investment adviser is not required to submit Part 2 of Form ADV to the director unless requested.</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <p class=MsoNormal>(2)&nbsp;&nbsp;Renewal. The annual renewal of the notice filing for a federal covered investment adviser pursuant to SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-405">47-31B-405(c)</A> shall be filed electronically with IARD. The renewal of the notice filing for a federal covered investment adviser shall be deemed filed when the fee required by SDCL 47-31B-410(e) is filed with and accepted by IARD on behalf of the state.</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <p class=MsoNormal>(3)&nbsp;&nbsp;Updates and amendments. A federal covered investment adviser must file electronically with IARD, in accordance with the instructions in the Form ADV, any amendments to the federal covered investment adviser's Form ADV.</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Source:</b> 37 SDR 112, effective December 9, 2010.</p> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-405">47-31B-405(a)</A> and (c), 47-31B-410(e) and (f), 47-31B-605(a)(1), 47-31B-605(b), 47-31B-608(c)(1).</p> <p class=MsoNormal><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-103">47-31B-103</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-405">47-31B-405(a)</A> and (c), 47-31B-410(e) and (f).</p> <p class=MsoNormal><o:p>&nbsp;</o:p></p> </div> </body> </html>