Investment Adviser Annual Requirements
Financial reporting (HAR §16-39-437)
Investment advisers must file an annual financial report within 90 calendar days following the end of the investment adviser’s fiscal year. The type of financial statements required is as follows:
Hawaii investment advisers with custody or discretionary authority
Audited financial statements.
Hawaii investment advisers without custody or discretionary authority
Financial statements that are verified by a duly authorized officer and notarized. The Investment Adviser Verification Form is available for your use.
Out-of-state investment advisers
A copy of the most recent financial report or statement, if any, that the investment adviser has filed with the state where it maintains its principal place of business.
Offer of ADV or brochure (HAR §16-39-439)
Investment advisers must furnish each advisory client and prospective client with a written disclosure statement that complies with the provisions of the Investment Advisers Act, 17 CFR §275.204-3. Investment advisers must also deliver annually, within 120 days after the end of its fiscal year, a current brochure to its clients