June 28, 1994
TO: INVESTMENT ADVISERS COMMITTEE NO. 41-94
NEVADA ASSOCIATE MEMBERS
RE: PROPOSED AMENDMENTS TO NEVADA INVESTMENT ADVISER
REGULATIONS
__________________________________________________________
The Nevada Secretary of State has published for comment
proposed amendments to regulations under the Nevada Uniform
Securities Act (the "Act") relating to investment advisers. In
particular, the proposed amendments would incorporate the
provisions of two rules promulgated under the Investment Advisers
Act of 1940 into the Act. These rules are Rule 204-2, relating to
books and records requirements, and Rule 204-2, the "brochure
rule."
Additionally, the proposed regulations would exempt registered
representatives of broker-dealers from having to register as
investment adviser representatives if the only investment advice
rendered by such person is as part of a wrap fee program.
A copy of the proposed regulations is attached.
Tamara K. Cain
Assistant Counsel
Attachment