Mississippi Administrative Code
Title 1 - Secretary of State
Part 14 - Securities Regulation
Chapter 6 - INVESTMENT ADVISERS
Rule 1-14-6.01 - Definitions
Current through March 14, 2024
A. Custody means holding directly or indirectly, client funds or securities, or having any authority to obtain possession of them (or having the ability to appropriate them). The investment adviser has custody if a related person holds, directly or indirectly, client funds or securities, or has any authority to obtain possession of them, in connection with advisory services the investment adviser provides to clients.
B. Cybersecurity means the protection of investor and firm information from compromise through the use, in whole or in part, of electronic digital media, (e.g., computers, mobile devices, or internet protocol-based telephony systems). "Compromise" refers to a loss of data confidentiality, integrity, or availability.
C. Investment Adviser: In order to provide uniform interpretation of the application of federal and state adviser laws to financial planners and other persons, the Division hereby expressly adopts Investment Advisers Act of 1940 Release No. 1092, 52 Fed. Reg. 38400 (October 8, 1987) (to be codified at 17 C.F.R pt. 276), as it relates to the definition of investment adviser set forth in Section 75-71-102(15) of the Act.
D. Investment Adviser Representative: Notwithstanding Section 75-71-102(16) of the Act, the term investment adviser representative as it applies to a person who is employed by or associated with a federal covered investment adviser only includes an individual who has a place of business in this jurisdiction, as that term is defined in Subsection (E) below, and who either:
E. Place of Business means:
F. Supervised Person means any partner, officer, director (or other person occupying a similar status or performing similar functions), or employee of an investment adviser, or other person who provides investment advice on behalf of the investment adviser and is subject to the supervision and control of the investment adviser.
Miss. Code Ann. § 75-71-605 (2020).