1. (1) Electronic filing of Form ADV. Each investment adviser registered or required to be registered under SDCL chapter 47-31B must resubmit its Form ADV electronically (ifithasnotpreviouslydoneso) with IARD unless it has been granted a hardship exemption under § 20:08:05:17(3).

   1. (a) If the amendment to Form ADV is made after the effective date of § 20:08:05:18, or at an earlier date if an investment adviser has filed its Form ADV (oranyamendmentstoFormADV) electronically with IARD, the registrant must file amendments to Form ADV required by § 20:08:05:18 electronically with IARD, unless it has been granted a hardship exemption under § 20:08:05:17(3).
2. (2) Electronic filing of Form U4. For each investment adviser representative registered or required to be registered under SDCL chapter 47-31B, Form U4 must be submitted electronically (ifithasnotpreviouslybeendone) with IARD, unless the investment adviser (filingonbehalfoftheinvestmentadviserrepresentative) has been granted a hardship exemption under § 20:08:05:17(3).

Source: 37 SDR 112, effective December 9, 2010.

General Authority: SDCL 47-31B-406(e) , 47-31B-608(c)(1).

Law Implemented: SDCL 47-31B-406(e).