Web CRD/IARD will be updated on/or about 5/14/12, with the release and implementation of Software Release 2012.2.  Updates will impact the following areas:

• Investment Adviser Public Disclosure (IAPD)
• FINRA Broker Check
• IARD Form Filing
• IARD View Organization
• IARD Reports

Private Funds Reporting Depository (PFRD). A new system called the Private Fund Reporting Depository (PFRD) is being created to submit and view Form PF (Private Funds) information.  The Form PF will provide the SEC with detailed financial information for private funds that meet the Form PF reporting thresholds. Only SEC-registered advisers will be entitled to submit the Form PF.  Private fund information is required to be added to Form ADV Schedule D, Section 7.B.(1) prior to being filed on the Form PF.  Private fund information collected via Form PF will not be publicly available on IAPD.  On 6/1/12, SEC-registered advisers will receive entitlement to the new PFRD system.  The PFRD system will not be accessible until entitlement is granted.  The PFRD system will be effective 6/4/12. For further details, go to [FINRA CRD Announcements] and [Release 2012.2 Notes, 5/14/12].