# kaal:claim:2337268-019

**Claim.** Part 2 of Form ADV requires a plain English narrative brochure for prospective advisory customers, making the brochure the primary disclosure document delivered to an adviser's clients.

**Type.** design  **Support.** asserted

**Holds when.**

- investment advisers registering with the SEC

**Source quote.**

> Part 2 of Form ADV requires investment advisers to provide a narrative brochure in plain English to prospective advisory customers. The brochure should contain the information set forth in Form ADV Part 2.44

**From.** Wulf A. Kaal, *Investment Adviser Regulation* (2013), 4. Disclosure, page 11

**Cite as.** Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

**Verify.** sha256 of source PDF `7075ce35282a8ee75b81ae3dec0e19f68631beae7f3c3a00ab2827538dc9e302` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Investment%20Adviser%20Regulation.pdf

**Topics.** private-funds, disclosure

**Keywords.** form-adv, plain-english, client-disclosure, brochure

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