<< All News Tuesday, June 29, 2010

The North Dakota Securities Department, a member of the North American Securities Administrators Association, today announced the launch of an enhancement to the Investment Adviser Public Disclosure (IAPD) website that will allow investors to electronically access information about individuals who work for money management, financial planning and other investment advisory firms.

This enhancement will provide information on investment adviser representatives - the individuals who work for these firms and provide investment advice to clients.

Commissioner Karen Tyler said the enhancement will allow investors to access information on more than 220,000 individual investment professionals, including background information such as customer complaints, criminal or regulatory disclosures, professional qualifications, and employment history. Previously, IAPD provided instant access only to registration documents filed by registered investment advisory firms.

The information provided on IAPD for both investment advisory firms and individuals comes from documents filed electronically with state securities administrators or the Securities and Exchange Commission. The registration documents provide information about each adviser's business, advisory services and fees and also discloses any disciplinary problems an adviser or its employees may have had during the last 10 years.

Tyler hailed the enhancement as an important step in improving investor protection.

By investigating before you invest, investors will be better equipped with the important information available through this website when they evaluate who they should hire to help them plan for their financial future, Tyler said.

The IAPD website, www.adviserinfo.sec.gov, is available free of charge. Investors can receive additional information on investment adviser firms and investment adviser representatives by contacting the North Dakota Securities Department at (701) 328-2910 or toll-free 1-800-297-5124 or go to our website at www.ndsecurities.com.

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