September 11, 1991
TO: INVESTMENT ADVISERS COMMITTEE NO. 41-91
COLORADO INVESTMENT ADVISERS
COLORADO INVESTMENT ADVISER ASSOCIATE MEMBERS
RE: INSTITUTE COMMENTS ON PROPOSED COLORADO ADVISER STATUTE
__________________________________________________________
As we previously informed you, the Colorado legislature is
considering enacting legislation to require investment adviser
regulation and registration. (See Institute Memorandum to
Investment Advisers Committee No. 27-91, dated June 25, 1991.)
The Institute recommended the proposed legislation be
revised to exempt investment advisers with sophisticated
clientele from the proposed examination requirement provisions of
the new law. In addition, the Institute questioned the need for
provisions relating to records of investment adviser
representatives, since any such records would relate to the
investment adviser employer.
A copy of the Institute's comments are attached. We will
keep you informed of developments.
W. Richard Mason
Assistant Counsel - Pension
Attachment