On March 13, 2020, the Securities and Exchange Commission (SEC) issued an order that provides relief to registered investment advisers (RIA) and exempt reporting advisers (ERA) that are unable to meet the filing deadline dues to circumstances related to current or potential effects of COVID-19. The order permits RIAs and ERAs to delay their filing of Forms ADV and Form PF and delivery of their brochure until the soonest practicable date after the original due date (but not later than 45 days after the original due date). The order comes with significant conditions that would likely discourage most RIAs and ERAs from using it.
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