Best Investors
Account
Sign in
Best Investors
Account
Sign in
Form ADV Part 1A Item 11D(5) · Answer type: yn · Item 11 - Disclosure Information
Item 11D(5) asks whether any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority has ever denied, suspended, or revoked the firm's or any advisory affiliate's registration or license, or otherwise prevented them, by order, from associating with an investment-related business, or restricted their activity.
This question captures direct regulatory sanctions against the firm or affiliated persons that affect their ability to operate in investment-related businesses. Unlike causation questions that focus on responsibility for other businesses' problems, 11D(5) addresses sanctions directly imposed on the firm or its people.
Registration or license includes any regulatory permission required for investment-related activities: state investment adviser registrations, broker-dealer licenses, insurance licenses for investment products, banking authorities for trust services, individual representative licenses, or foreign regulatory credentials.
Yes
The firm reports that state, other federal, or foreign regulators have denied, suspended, revoked, or restricted registrations, licenses, or business activities for the firm or advisory affiliates.
No
The firm reports No under 11D(5). This answer applies only to this question.
11D(5) - Ever denied, suspended, or revoked your or any advisory affiliate's registration or license, or otherwise prevented you or any advisory affiliate, by order, from associating with an investment-related business or restricted your or any advisory affiliate's activity?
This comprehensive question in Item 11D covers the full range of direct regulatory sanctions that can affect investment business operations.
What 11D(5) does not reveal is the specific violations that triggered sanctions, their underlying facts, when sanctions occurred, which regulators imposed them, or whether sanctions have been lifted or modified. Sanctions can range from technical compliance issues to serious professional misconduct.
Yes
Review detailed disclosure narratives to understand what sanctions were imposed, their underlying violations, when they occurred, which regulators imposed them, which affiliates were affected, and their current status.
No
The firm reports No under 11D(5). Review the other Item 11 rows separately because each question has its own scope.