January 24, 1989
TO: INVESTMENT ADVISER MEMBERS NO. 5-89
INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 5-89
RE: NORTH CAROLINA ADOPTS TEMPORARY INVESTMENT ADVISER RULES
__________________________________________________________
As of January 1, 1989, investment advisers and investment
adviser representatives are required to register with the state
of North Carolina pursuant to the attached regulations. The
regulations are similar to most other states' regulations
requiring the registration of advisers and investment adviser
representatives.
Please note that the examination requirements of Rule .1709
will be waived for applicants filing for registration prior to
February 1, 1989. Also note that investment advisers maintaining
custody of or discretionary authority over clients funds or
securities must be bonded in an amount of not less than $35,000.
However, advisers meeting the minimum financial requirements
under Rule .1704 are not required to be bonded.
Robert L. Bunnen, Jr.
Assistant General Counsel
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