The Investment Adviser Public Disclosure (IAPD) Web site provides instant access to registration documents filed by more than 9,000 registered investment advisers. The documents, filed electronically with the SEC or state securities administrators, provide information about each adviser's business, advisory services and fees. The registration documents also disclose any disciplinary problems an adviser or its employees may have had during the last ten years.

 

"The IAPD Web site underscores the SEC's commitment to full public disclosure by giving investors a valuable new tool to help them compare the qualifications and services of thousands of investment advisers," said SEC Chairman Harvey L. Pitt.

 

NASAA President Joseph Borg concurred. "Investors need to know who they're dealing with and IAPD will help them do just that, with just a click of a mouse. IAPD will become an increasingly useful tool for investors as more and more state investment advisers come on the system in the months ahead."

 

Currently more than 9,000 investment advisers nationwide file and update their registration documents electronically, including all 7,300 SEC-registered advisers and more than 1,700 state-registered advisers. Additional state-registered advisers are joining the system daily.

 

The IAPD Web site, http://www.adviserinfo.sec.gov, will be available 24 hours a day, free of charge. Investors without Internet access can get copies of investment adviser registration statements by calling the SEC Public Reference Room at 202.942.8090 or their state securities regulator.