Resources for Investment Advisers in Minnesota

Resources for Investment Advisers on the Minnesota Department of Commerce Securities Unit website are Excellent. Kudos to the dedicated staff. Available HERE

Two of my favorite resources are the (1) Written Supervisory Procedures Checklist for Investment Advisers, and (2) Minnesota Statutory Information. The Table of Contents for the 18-page, 17-section, Minnesota Statutory Information includes the relevant law for:

Section 1: ADVERTISING AND MARKETING,
      A. Relevant Law,
      B. Misleading and/or Unsupported Statements, and
      C. SEC Marketing Rule updates 206(4)-1.
Section 2: ADVISORY CONTRACTS.
Section 3: BEST EXECUTION/ SOFT DOLLAR ARRANGEMENTS.
Section 4: BOOKS AND RECORDS.
Section 5: CODE OF ETHICS.
Section 6: COMPLIANCE PROGRAM/INTERNAL CONTROLS.
Section 7: CUSTODY,
      A. Relevant Law.
      B. For IAs serving as trustee per R. 4116 subp. 1. (H).
Section 8: DISCLOSURE TO CLIENTS OF MATERIAL INFORMATION.
Section 9: FORM ADV.
Section 10: INVESTMENT ADVISOR REPRESENTATIVE: CONTINUING EDUCATION.
Section 11: MINIMUM FINANCIAL REQUIREMENTS,
      A. Relevant Law- Custody,
      B. Relevant Law- Discretion,
      C. Relevant Law- Prepayment Plans.
Section 12: PERFORMANCE ADVERTISING.
Section 13: PRICING.
Section 14: PRIVACY POLICY.
Section 15: REFERRAL ARRANGEMENTS AND SOLICITATION AGREEMENTS.
Section 16: REGISTRATION AND POST REGISTRATION REQUIREMENTS.
Section 17: SUITABILITY.

Two of my favorite resources are the (1) Written Supervisory Procedures Checklist for Investment Advisers, and (2) Minnesota Statutory Information.

NOTE: The descriptions and/or interpretations of law are explanatory in nature, and may be paraphrased, abbreviated and incomplete. You are directed to refer to the applicable statutes and rules in their entirety for information to be relied upon, or to seek the advice of counsel.