Current through March 20, 2024
In the event that an investment adviser succeeds to and
continues the business of an investment adviser registered pursuant to Section
8-1103
of the Act, the registration of the predecessor shall be deemed to remain
effective as the registration of the successor if the successor, within thirty
(days after such succession, files an application for registration on Form ADV,
and the predecessor files a notice of withdrawal from registration on Form
ADV-W.
014.01 The registration of the
predecessor investment adviser will cease to be effective as the registration
of the successor investment adviser forty-five days after the application for
registration on Form ADV is filed by such successor.
014.02 Notwithstanding any other provision of
this Section:
014.02A A Form ADV filed by an
investment adviser partnership which is not registered when such form is filed
and which succeeds to and continues the business of a predecessor partnership
registered as an investment adviser shall be deemed to be an application for
registration even though designated as an amendment if it is filed to reflect
the changes in the partnership and to furnish required information concerning
any new partners.
014.02B A Form
ADV filed by an investment adviser corporation which is not registered when
such form is filed and which succeeds to and continues the business of a
predecessor corporation registered as an investment adviser shall be deemed to
be an application for registration even though designated as an amendment if
the succession is based solely on a change in the predecessor's state of
incorporation and the amendment is filed to reflect that change.
014.02C A Form ADV filed by an investment
adviser corporation, partnership, sole proprietorship or other entity which is
not registered when such form is filed and which succeeds to and continues the
business of a predecessor corporation, partnership, sole proprietorship or
other entity registered as an investment adviser shall be deemed to be an
application for registration even though designated as an amendment if the
succession is based solely on a change in the predecessor's form of
organization and the amendment is filed to reflect that change.
