SEC, State Regulators Launch Investment Adviser Information Website

The Securities  and
Exchange   Commission   and  the  North  American   Securities
Administrators Association (NASAA) today announced the  launch
of  a  website  that  will allow investors  to  electronically
access  information  about money managers, financial  planners
and other investment advisers.

     The  Investment Adviser Public Disclosure (IAPD)  website
provides  instant  access to registration documents  filed  by
more   than   9,000  registered  investment   advisers.    The
documents,  filed  electronically  with  the  SEC   or   state
securities  administrators,  provide  information  about  each
adviser’s   business,  advisory  services   and   fees.    The
registration documents also disclose any disciplinary problems
an  adviser or its employees may have had during the last  ten
years.

     SEC  Chairman  Harvey  L. Pitt said,  “The  IAPD  website
underscores the SEC’s commitment to full public disclosure  by
giving investors a valuable new tool to help them compare  the
qualifications  and  services  of  thousands   of   investment
advisers.”

     NASAA  President Joseph Borg concurred.  “Investors  need
to  know  who they’re dealing with and IAPD will help them  do
just that, with just a click of a mouse.  IAPD will become  an
increasingly useful tool for investors as more and more  state
investment advisers come on the system in the months ahead.”

     Currently  more than 9,000 investment advisers nationwide
file  and  update their registration documents electronically,
including  all  7,300 SEC-registered advisers  and  more  than
1,700  state-registered advisers.  Additional state-registered
advisers are joining the system daily.

     The   IAPD  website,  www.adviserinfo.sec.gov,  will   be
available  24 hours a day, free of charge.  Investors  without
Internet   access   can  get  copies  of  investment   adviser
registration  statements by calling the SEC  Public  Reference
Room at (202) 942-8090 or their state securities regulator.
     
     For further information, contact the SEC Office of Public
Affairs at (202) 942-0020 or contact Ashley Baker of NASAA  at
(202) 737-0901, ext. 105.