Regulatory Alerts2011-08-01
Broker-Dealer and Investment Adviser Recordkeeping Requirements
The Louisiana Commissioner of Financial Institutions has adopted LAC 10:XIII.Chapter 17, requiring registered broker-dealers and investment advisers to maintain books and records in compliance with specific SEC regulations. The rule incorporates SEC rules 17a-3, 17a-4, and 204-2 by reference while providing safe harbors for compliance with subsequent SEC amendments, and it exempts out-of-state advisers meeting their home state's recordkeeping standards. Additionally, entities must preserve required records and provide written notification of the preservation address to the commissioner before ceasing business.
Share