April 2, 2001

The North America Securities Administrators Association recently proposed revisions to Form U-4 and Form U-5. The primary reason the forms have been revised is to allow them to be used for the SEC's Investment Adviser Registration Depository (IARD) filing system.

Outside of changes to reflect filings made over the IARD, the forms are substantially the same as existing forms. The proposed changes to Form U-4 include more questions about multiple affiliations, boxes to indicate whether it is an broker-dealer agent or investment adviser representative filing, and adding more information about examinations offered by self-regulatory organizations. More options to partial termination has been added to Form U-5.

To access a copy of the case, please click http://www.sec.gov/litigation/admin/33-7969.htm