Compilation of Rules and Regulations of the State of Georgia › Department 590 - RULES OF OFFICE OF SECRETARY OF STATE › Chapter 590-4 - COMMISSIONER OF SECURITIES › Subject 590-4-4 - INVESTMENT ADVISERS AND REPRESENTATIVES › Rule 590-4-4-.14 - Books and Records to Be Maintained by Investment Advisers; Routine Examinations and Fees

Current through Rules and Regulations filed through June 27, 2024
(1) Every investment adviser registered or
				required to be registered under the Act shall make and keep true, accurate, and
				current the following books, ledgers, and records relating to its investment
				advisory business:
(a) All of those books and
				records required to be maintained and preserved in compliance with SEC Rule
				204-2 promulgated under the Investment Advisers Act of 1940, notwithstanding
				the fact that the investment adviser is not registered nor required to be
				registered under the Investment Advisers Act of 1940.
(b) All trial balances, financial statements
				prepared in accordance with generally accepted accounting principles or other
				applicable accounting standard, and internal audit working papers relating to
				the investment adviser's business as an investment adviser.
(c) A list, or other record, of all accounts
				with respect to the funds, securities, or transactions of any client.
(d) A copy, in paper or electronic format, of
				each investment advisory agreement entered into by the investment adviser with
				any client.
(e) A file containing a
				copy of each record required by SEC Rule 204-2(a)(11) promulgated under the
				Investment Advisers Act of 1940 including any communication by electronic media
				that the investment adviser circulates or distributes, directly or indirectly,
				to ten (10) or more persons (other than persons connected with the investment
				adviser).
(f) A copy of each
				written statement and each amendment or revision given or sent to any client or
				prospective client of the investment adviser in accordance with the provisions
				of Rule
				 590-4-4-.16, and a record of the
				dates that each written statement and each amendment or revision was given or
				offered to be given to any client or prospective client who subsequently
				becomes a client.
(g) For each
				client that was obtained by the investment adviser by means of a solicitor to
				whom a fee was paid by the investment adviser, all records required by SEC Rule
				206(4)-3 promulgated under the Investment Advisers Act of 1940, notwithstanding
				the fact that the investment adviser is not registered nor required to be
				registered under the Investment Advisers Act of 1940. For the purpose of
				relying on the solicitation exemption contained in
Rule
				 590-4-4-.12
, all documents
				demonstrating compliance with
Rule
				 590-4-4-.12
.
(h) All records required by SEC Rule
				204-2(a)(16) promulgated under the Investment Advisers Act of 1940 including,
				but not limited to, electronic media that the investment adviser circulates or
				distributes, directly or indirectly, to two (2) or more persons (other than
				persons connected with the investment adviser).
(i) A file containing a copy of all written
				communications received or sent regarding any litigation involving the
				investment adviser or any investment adviser representative or employee, or
				regarding any written customer or client complaint.
(j) Written information about each investment
				advisory client that is the basis for making any recommendation or providing
				any investment advice to such client.
(k) Written procedures for supervising the
				activities of employees and investment adviser representatives that are
				reasonably designed to achieve compliance with applicable securities laws and
				regulations.
(l) A file containing
				a copy of each document (other than any notices of general dissemination) that
				was filed with, or received from, any state or federal agency or self
				regulatory organization that pertains to the registrant or its investment
				adviser representatives. The file should contain, but is not limited to, all
				applications, amendments, renewal filings, and correspondence.
(m) For investment advisers that have
				custody, as that term is defined in Rule
				 590-4-4-.20, of client funds or
				securities, all records and evidence of compliance with Rule
				 590-4-4-.20.