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-.18 - Financial Reporting Requirements for Investment Advisers
Current through Rules and Regulations filed through September 25, 2023
(1) Every investment adviser registered or required to be registered pursuant to Section 10-5-32 of the Act, who has custody of client funds or securities or requires payment of its advisory fees six (6) months or more in advance and in excess of $500 per client shall file with the Commissioner an audited balance sheet as of the end of the investment adviser's most recent fiscal year. Each balance sheet filed pursuant to this Rule must be:
(2) Any investment adviser may be required by the Commissioner to file a financial statement showing the investment adviser's financial condition as of the most recent practicable date. Except as provided in subsection (1) of this rule, such financial statements need not be audited.
(3) The financial statements required by this Rule shall be filed with the Commissioner within ninety (90) days following the end of the investment adviser's fiscal year.
(4) Every investment adviser that has its principal place of business in a state other than this State shall file only such reports as required by the state in which the investment adviser maintains its principal place of business, provided the investment adviser is registered or licensed in such state and is in compliance with such state's financial reporting requirements.
(5) For purposes of this rule,"custody" shall have the same meaning as in Rule 590-4-4-.20.
(6) An investment adviser is not required to comply with subsection (1) of this Rule if all of the following are met:
(7) Any filing made pursuant to subsections (1) or (2) of this Rule may be made electronically as provided for by the Commissioner.
O.C.G.A. Sec. 10-5-40.
Original Rule entitled "Financial Reporting Requirements for Investment Advisers" adopted. F. Nov. 18, 2011; eff. Dec. 8, 2011.