The SEC adopted new rules last week regarding the electronic filing of form ADV that will require all advisers to begin filing Part I of the form electronically by January 2001, the commission announced.
The revised format will meet state and federal laws with a single filing, according to the rule. The electronic format will be made available to the public and require advisers to include a section in plain English.
The Investment Adviser Registration Depository, through which advisers will file form ADV, is currently being built and will be operated by NASD Regulation, according to the SEC.
The SEC has not yet determined what its final rules on Part II of Form ADV will be, the commission announced.