Question

"Who is responsible for filing a U-5 Form with IARD when an investment adviser representative is terminated and associates with another advisory firm?"

Answer 1

Answer: The investment adviser that is the former employer is responsible

Explanation:

U-5 is a security industry termination form filled by the employer that terminates an individuals employment.

When the individual relates with another advisory firm, the new employer now reactivates the individuals registration by filling a U-4 with IARD. The employee is not really notified when both forms are filled