Series 63 practice questionhardUpdating Form ADV after material change
An investment adviser discovers a material disciplinary event that makes its Form ADV disclosure inaccurate. When should the adviser amend the filing?
- APromptly✓ Correct answer
- BPromptly, but no later than 90 days after the adviser's fiscal year-end
- CWithin 60 days of the next client meeting
- DImmediately, but only if requested by a client
Explanation
Why A — Promptly
A material disciplinary change that makes Form ADV inaccurate requires a prompt amendment. The governing instruction does not create a universal 30-day maximum from discovery.
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