SEC Guides
Practical explainers for SEC filings, EDGAR, private funds and adviser records.
What Is a CRD Number How to Verify Investment Advisers and Brokers
What Is a CRD Number A CRD number is a unique identifier used within the Central Registration Depository system. CRD stands for: Central Registration Depository The system is widely used in the U.S. securities industry to track information about: Broker-dealer firms Registered representatives Investment adviser firms I
Read guide →
Form ADV Part 1 vs Part 2 vs Form CRS: What Investors Should Check
Form ADV Part 1 vs Part 2 vs Form CRS: What Investors Should Check Investment advisers in the United States may be required to provide several different regulatory disclosures. The most important documents commonly reviewed by investors are: Form ADV Part 1 Form ADV Part 2 Form CRS These documents serve different purpo
Read guide →
What Is an Exempt Reporting Adviser (ERA) Form ADV, Private Funds and SEC Registration Explained
What Is an Exempt Reporting Adviser (ERA) An Exempt Reporting Adviser, commonly abbreviated as ERA, is an investment adviser that is exempt from full registration with the U.S. Securities and Exchange Commission but is still required to report certain information through Form ADV. ERA status is most commonly associated
Read guide →
How to Verify Whether an Investment Adviser Is Really SEC Registered
How to Verify Whether an Investment Adviser Is Really SEC Registered Investors often see financial companies describe themselves as “SEC registered,” “SEC regulated,” or “registered with the U.S. Securities and Exchange Commission.” Those phrases can sound authoritative. But they do not always mean the same thing. A co
Read guide →