2010 IARD Renewal Program

December 3, 2009

To all state/SEC registered investment advisers:

The annual renewal of your IA firm and its registered representatives in state jurisdictions is approaching. Renewals will be processed through the 2010 IARD Renewal Program.

Preliminary Renewal Statements and reports for the 2010 Renewal Program became available on November 16, 2009 on your FINRA account. FINRA must receive full payment of Preliminary Renewal Statements by the payment due date Friday, December 11, 2009 (it is suggested that payment is received earlier to allow for processing).

If you would like us to assist you with this process, please contact your primary contact attorney in the Investment Management Group at Seward & Kissel.

For more information regarding the renewal program from the IARD website, please see http://www.iard.com/renewals.asp.