Since 1979, the SEC has required registered investment advisers to deliver a written disclosure statement to clients pursuant to Rule 204‑3 under the Investment Advisers Act of 1940. Part 2A of Form ADV – commonly referred to as the “brochure” – sets out minimum requirements for that disclosure statement. Because Form ADV has been revised multiple times over the years, it is easy for fund managers to make mistakes on their Parts 2A, such as omitting required information or providing information that is inconsistent with other disclosures. Getting any part of Form ADV wrong can result in deficiency letters – and even enforcement actions. For example, in September 2022, the SEC resolved nine enforcement proceedings alleging violations of the Custody Rule and associated requirements and failures to promptly update their respective Forms ADV with accurate information about fund audits. A year later, the Commission resolved five additional enforcement proceedings arising out of that sweep. The article reviews the basics of Form ADV; discusses the possible consequences of mistakes on the filing; and provides a checklist developed by Victoria Hogan, president of NorthPoint Compliance and former SEC Examiner, that advisers can use to evaluate their own Parts 2A and ensure the forms are accurate and complete. “The checklist is more digestible than the SEC’s [Form ADV] directions. Advisers can also save the completed checklists to demonstrate – both internally and to the SEC – that they’ve reviewed their Parts 2A in a thoughtful way,” she explained. For another checklist created by Hogan, see “A Checklist for Advisers to Prepare Their Traders for SEC Exam Interviews” (Mar. 14, 2019).