November 28, 1989
TO: INVESTMENT ADVISERS COMMITTEE NO. 50-89
RE: MISSISSIPPI PROPOSES INVESTMENT ADVISER RULE CHANGES
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Attached is a copy of the relevant portions of the proposed
Mississippi rules for investment advisers.
The proposed rule changes include provisions relating to
(1) an investment adviser application for registration, (2) a net
capital requirement based on the broker-dealer net capital rule,
(3) when financial statements must be filed, (4) when notice of
material changes must be made, (5) the specific books and records
that must be maintained by investment advisers, (6) specific
requirements for advisers with custody, (7) general supervisory
procedures requirement, (8) a dishonest or unethical practices
section (standards of conduct), (9) a brochure rule which would
require that each advisory client sign a copy of the adviser's
disclosure statement, (10) and a definition of investment adviser
agent which would include "employees who have discretion
regarding clients' funds or who is involved in advising clients."
Comments are due on or before December 15, 1989.
Therefore, if you have any comments you believe the Institute
should make, please contact the undersigned by Tuesday, December
12, 1989.
Robert L. Bunnen, Jr.
Assistant General Counsel
Attachment