July 25, 1990
TO: INVESTMENT ADVISER MEMBERS NO. 36-90
INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 32-90
RE: NASAA AMENDMENTS TO INVESTMENT ADVISER RULES UNDER THE
UNIFORM SECURITIES ACT
__________________________________________________________
As we previously informed you, the Financial
Planner/Investment Adviser Committee of the North American
Securities Administrators Association, Inc. (NASAA) proposed
amendments to the model rules under the Uniform Securities Act
and also held a meeting to consider those changes. (See
Memorandum to Investment Adviser Members No. 15-90 and Investment
Adviser Associate Members No. 14-90, dated May 2, 1990.) As
described in that memorandum, we were pleased that the Committee
included a number of the changes suggested by the Institute
before submitting the proposed amendments to a membership vote.
Those changes are reflected in the final amendments, a copy of
which is attached.
Amy B. Rosenblum
Assistant General Counsel
Attachment