PURPOSE: This rule prescribes the books and records to be kept by investment advisers.

1. (1) Every registered investment adviser shall maintain and keep current the following books and records, provided, however, that compliance with the requirements of the Securities and Exchange Commission with respect to maintenance and preservation of records by an investment adviser registered under the Investment Advisers Act of 1940 shall be deemed to be compliance by the investment adviser with this rule and 15 CSR 30-51.150:

   1. (A) Ledgers (or other records) reflecting all assets and liabilities, income and expense and capital accounts;
   2. (B) A record showing all payments received, including date of receipt, purpose and from whom received; and all disbursements, including date paid, purpose and to whom made;
   3. (C) A record showing all receivables and payables;
   4. (D) Records showing separately for each client the securities purchased or sold and, to the extent it has been made available to the investment adviser, the date and amount of and price at which such purchases or sales were executed. If available to the investment adviser, this record should also show the name of the security broker-dealer who handled the transaction;
   5. (E) Records showing separately all securities (other than general or revenue obligations issued by a governmental issuer enumerated in section 409.402(a)(1) of the Act), bought or sold by the clients of the investment adviser and indicating thereon with proper identification of the individual account, the date, amount and price at which the securities were purchased or sold by or for each client; or, in the alternative, a record showing all of the securities bought or sold by or for the accounts of all clients of the investment adviser in each month, the total number of shares or principal amount of each security bought or sold and the lowest and highest price at which those purchases or sales were made during the month;
   6. (F) Copies of broker-dealers’ confirmations of all transactions placed by the investment adviser for any account, and other broker-dealers’ confirmations as may be supplied to the investment adviser by a client or broker-dealer; and
   7. (G) A list showing all accounts in which the investment adviser is vested with discretionary power, unless the records required by subsections (D) and (E) are maintained in a manner as to disclose which are discretionary accounts, provided that the provisions of subsections (D) and (E) shall not apply to any securities with respect to which the investment adviser does not render services of a supervisory nature or to any securities or transactions which a client declines to disclose to the investment adviser; and provided further that provisions of subsections (D)–(G) 15 CSR 30-51

shall not apply to the accounts of any investment adviser where the services consist solely of the distribution of written or printed publications on a subscription basis.

AUTHORITY: sections 409.203 and 409.413(a), RSMo 1986.* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974.

*Original authority: 409.203, RSMo 1967 and 409.413, RSMo 1967.