The Missouri Checklist For State-Covered Investment Advisers is a checklist for registered investment advisers, also known as Bias, that are registered with the Missouri Secretary of State. This checklist includes a list of requirements that Bias must comply with in order to remain in good standing with the state of Missouri. The checklist covers registration, reporting and disclosure requirements, as well as other operational and compliance-related issues. The Missouri Checklist For State-Covered Investment Advisers includes two main types of checklists: the Initial Checklist and the Annual Renewal Checklist. The Initial Checklist guides Bias through the registration process and includes requirements such as filing the required registration forms and documents, paying the applicable registration fee, and submitting proof of errors and omissions insurance. The Annual Renewal Checklist helps Bias to maintain their registration with the state of Missouri and includes requirements such as filing updated registration documents, paying the annual renewal fee, and submitting updated financial statements. The Missouri Checklist For State-Covered Investment Advisers also includes additional resources, such as a list of frequently asked questions and a glossary of terms.
Missouri Checklist For State-Covered Investment Advisers
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General ledger reflecting assets, liabilities, capital, reserves, income and expenses. Memoranda of each order placed by a portfolio manager on behalf of a client. Bank records, including check books, bank statements, canceled checks and cash reconciliations. Bills and statements relating to the adviser's business.
The Books and Records Rule 204-2 gives an exhaustive list of requirements: A journal or journals, including cash receipts and disbursements, records, and any other records of original entry forming the basis of entries in any ledger.
(3) fails to provide, in substance, that the investment adviser, if a partnership, will notify the other party to the contract of any change in the membership of such partnership within a reasonable time after such change.
Advisers to investment companies registered under the Investment Company Act of 1940 must register with the SEC. Advisers to business development companies, when the adviser has at least $25 million of RAUM, must register with the SEC.
Federal covered advisers are defined as investment advisers with more than $100 million in assets under management.
Section 204A of the Advisers Act requires investment advisers (whether SEC-registered or not) to establish, maintain, and enforce written policies and procedures reasonably designed to prevent the misuse of material, nonpublic information by the investment adviser or any of its associated persons.
Investment adviser financial requirements Must maintain a minimum net worth of: $10,000 if exercising discretion. $35,000 if maintaining custody.
Books and records required to be made under the provisions of paragraphs (a)(11) and (a)(16) of this Rule shall be maintained and preserved in an easily accessible place for a period of not less than five years, the first two years in an the principal office of the investment adviser, from the end of the fiscal year