Investment advisers registered with the SEC must deliver their Form ADV Part 2B, known as the "Brochure Supplement", to prospective, new and existing clients pursuant to the deadlines below. Advisers with a fiscal year ending between December 31st and April 30th have the following deadlines:

  • For new and prospective clients, advisers must start providing their Brochure Supplements no later than July 31, 2011;
  • For existing clients, advisers must deliver their Brochure Supplements to such clients by September 30, 2011.

Other registered investment advisers generally have the following deadlines:

  • For new and prospective clients, advisers must start using their Brochure Supplement as of the date they file and begin using their Form ADV Part 2A;
  • For existing clients, advisers must deliver their Brochure Supplements to such clients within sixty days of filing the Part 2A.

The Brochure Supplement is not filed with the SEC and is not publicly available; advisers must preserve copies of the Brochure Supplement and amendments thereto and provide them to the SEC upon request.