The deadline for investment advisers with a December fiscal year-end to file their Form ADV annual update is March 31, 2025. Our latest client briefing identifies preliminary steps, relevant resources, and practical considerations for investment advisers to facilitate a smooth annual update.

This client briefing also discusses important substantive considerations in the current SEC regulatory environment for investment advisers working on their annual ADV updates, including:

• Responses to questions regarding private fund audits in Form ADV part 1A; and
• Updating risk factors, as well as disclosures related to valuation and other practices, in Form ADV part 2A.