Haw. Code R. § 16-38-40 - Registration; expiration, renewal, termination

(a) All registrations shall automatically expire on December 31 of each year (unless sooner terminated) and shall be renewed as provided in this section. An investment adviser shall be responsible for renewing the registration of its investment adviser representatives at the time the investment adviser renews its registration. An investment adviser that is registered through the IARD shall renew its registration with the commissioner through the IARD no later than December 31 of each year. All other investment advisers shall renew their registration by filing with the commissioner not earlier than November 1 or later than December 1 of the current registration year, an originally executed copy of page one of Form ADV, together with:

(1) Any amendments to Form ADV that have not been previously filed with the commissioner;

(2) A list of the names and either the IARD number or social security number of each of the investment adviser's investment adviser representatives who is renewing a registration;

(3) Any amendments to Form U- 4 on any investment adviser representative listed pursuant to paragraph (2) if the amendments have not been previously filed with the commissioner;

(4) A Form U- 5 on any registered investment adviser representative of the investment adviser who is not renewing its registration; and

(5) A renewal fee as set forth in section 16-38-3, HRS, in an amount that is sufficient to cover the renewal of the registration of the investment adviser and each investment adviser representative listed pursuant to paragraph (2).

(b) Renewals not received by December 1 shall be subject to a penalty of one hundred per cent of the renewal fee. The registration of an investment adviser and each of its registered representatives that have not been renewed by December 31 shall be considered terminated effective as of 12:01 a.m., December 31. Thereafter, to apply for registration, the investment adviser and its investment adviser representatives shall comply with the provisions of this subchapter and subchapter 5. A subsequent application shall be considered in all respects as an original application.

(c) Registration may be terminated prior to the expiration date by filing a Form ADV-W for the investment adviser and a Form U- 5 for each of the investment adviser's investment adviser representatives with the IARD. In the event a Form ADV-W is filed without any Form U-5, the commissioner's acceptance of the Form ADV-W shall authorize the commissioner to terminate the registration of each registered investment adviser representative of the investment adviser.

Notes

Haw. Code R. § 16-38-40

[Eff and comp 10/12/85; am 4/4/87; am and comp 4/14/03] (Auth: HRS § 485-2) (Imp: HRS § 485-14)