Common exam issues
- Outdated, inaccurate or incomplete Form ADV
- Annual written offer of advisers disclosure statements (HAR §16-39-439) needs to be evidenced and maintained
- Books and records deficiencies
- Missing authorizations for trades in non-discretionary accounts
- Failure to obtain and updated client information (financial data, objectives, etc.)
- Annual financial statements not filed timely with the commissioner (HAR §16-39-437)