
To that end, the commission's always evolving Form ADV — a rich repository of information about RIAs for regulators, law enforcement bodies, researchers and the public — underwent its most recent revamp in August.
Please scroll through the 10 most significant changes as identified by the compliance outsourcing firm Cipperman Compliance Services. Firms with a Dec. 31 fiscal year have until next year to implement the changes. However, many firms have already begun the process in preparation for the annual update.

1. Analyze your SMAs

2. Don't hide under an umbrella

3. Break down your social life

4. Up your office listings

5. Name your compliance czar

6. Break down your assets

7. Get your head around wraps

8. Explain how referrals impact pay

9. ID more bad apples
