September 1, 1989
TO: INVESTMENT ADVISERS COMMITTEE NO. 37-89
RE: NASAA PROPOSED REVISIONS TO THE MODEL INVESTMENT ADVISER
RULES
__________________________________________________________
On Sunday, September 10, 1989, the North American
Securities Administrators Association, Inc.'s (NASAA) Financial
Planner/Investment Adviser Committee will meet to discuss four
proposed revisions to the model amendments and the uniform rules.
A copy of the four proposals is attached.
The proposals deal generally with financial and
disciplinary disclosures by investment advisers and investment
adviser representatives, a flexible approach for administrators
concerning the inclusion of "solicitors" in the definition of
investment adviser representative and a recordkeeping rule
concerning advertising of performance data that mirrors the SEC
rule adopted in 1988 concerning the same issue.
If you have any comments about these proposals, please
contact me no later than Thursday, September 7, 1989.
We will keep you informed of any developments.
Robert L. Bunnen, Jr.
Assistant General Counsel
Attachment