SEC Finally Publishes Proposed Amendments to Part 2 of Form ADV

On March 3, 2008, the Securities and Exchange Commission (SEC) published proposed amendments to Part 2 of Form ADV, the investment adviser registration form. The proposed amendments would replace the current “check-the-box” format and related disclosure schedules with a plain English, narrative brochure. The brochure would contain enhanced disclosure of potential conflicts of interest and would incorporate the disclosure of legal and disciplinary events involving the firm and its management personnel currently required by Rule 206(4)-4, which the SEC is proposing to withdraw. This week’s proposal incorporates public comments the SEC received on the amendments to Part 2 originally proposed on April 5, 2000.

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