HAR §16-39-440. Post-effective requirements

(a) Every registrant shall promptly notify the commissioner of any material change in any information, exhibits, or schedules submitted, or circumstances disclosed in its last prior Form ADV by filing a correcting amendment on Form ADV. Changes to be reported shall include, but are not limited to, the following: (1) Change in firm name, ownership, management, or control of an investment adviser; (2) Change in any of its partners, officers, or persons in similar positions; (3) Change in its business address, or the creation or termination of a branch office in this State; (4) Change in type of entity, general plan, or character of the investment adviser's business, method of operation, or type of securities in which it is dealing or trading; (5) Material adverse change in financial condition, insolvency, dissolution, or liquidation, or impairment of working capital, or noncompliance with the minimum net worth or bond requirements hereinabove provided; and (6) The filing of any disciplinary proceeding that is required to be disclosed on Form ADV, including but not limited to, a criminal charge or civil action against a §16-39-440 39-91 registrant or a partner, officer, or employee who acts as an investment adviser in which a fraudulent, dishonest, or unethical act is alleged, or a violation of a securities law or any aspect of the securities business is involved or entry of a court or administrative order or proceeding against a registrant to deny, suspend, or revoke a registration, or threatening to do so, or to enjoin it from engaging in or continuing any conduct or practice in the securities business, or to impose a fine, suspension, or expulsion from FINRA. (b) Registration of successor to registered investment adviser. In the event that a new investment adviser becomes the successor and continues the business of an investment adviser registered pursuant to section 16-39-430, the registration of the predecessor investment adviser shall be deemed to remain effective as the registration of the successor investment adviser if the successor investment adviser, within thirty calendar days after such succession, files an application for registration on Form ADV, and the predecessor investment adviser files a notice of withdrawal from registration on Form ADV- W. (1) The registration of the predecessor investment adviser shall cease to be effective at such time as the application for registration on Form ADV filed by the successor investment adviser becomes effective; and (2) Notwithstanding any other provision of this section, if an investment adviser succeeds to and continues the business of a registered investment adviser, and the succession is based solely on a change in the predecessor investment adviser's date or state of incorporation, form of organization, or composition of a partnership, the successor investment §16-39-440 39-92 adviser shall, within thirty calendar days after the succession, amend the registration of the predecessor investment adviser on Form ADV to reflect these changes. This amendment shall be deemed an application for registration filed by the predecessor investment adviser and adopted by the successor investment adviser. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §§485A-411, 485A-606) (Imp: HRS §§ 485A-407, 485A-409, 485A-411) §16-39-441 Expiration, renewal, termination of registration. (a) All registrations shall automatically expire on December 31 of each year (unless sooner terminated in accordance with chapter 485A, HRS, and this chapter) and shall be renewed as provided in this section. An investment adviser shall be responsible for renewing the registration of its investment adviser representatives at the time the investment adviser renews its registration. An investment adviser shall renew its registration with the commissioner by filing the renewal documents and fees through the IARD. The renewal documents shall include: (1) All amendments to Form ADV and Form U-4 that have not previously been filed with the commissioner; (2) The renewal fee as set forth in section 16- 39-103 for the investment adviser and for each investment adviser representative renewing a registration. (b) An application for renewal registration shall not be considered filed until the required fee and all required submissions have been received by the commissioner. (c) A copy of all amendments to Form ADV that have previously been filed shall be submitted directly to the commissioner. §16-39-442 39-93 (d) Where registrations are permitted to expire on December 31 without the filing of a renewal application, a subsequent application shall be considered in all respects as an initial application. (e) Registration may be terminated prior to the expiration date by filing a Form ADV-W with the commissioner or through the IARD. Termination of the investment adviser's registration for any reason shall automatically terminate the registration of each registered investment adviser representative of the investment adviser. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §§485A-406, 485A-606) (Imp: HRS §§ 485A- 406, 485A-409, 485A-606)