Missouri Code of State Regulations
Title 15 - ELECTED OFFICIALS
Division 30 - Secretary of State
Chapter 51 - Broker-Dealers, Agents, Investment Advisers, and Investment Adviser Representatives
Section 15 CSR 30-51.145 - Compensation Arrangements Involving Investment Advisers

Universal Citation: 15 MO Code of State Regs 30-51.145

Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: This rule permits compensation arrangements presently allowed by the United States Securities and Exchange Commission.

(1) Registered investment advisers may pay a cash fee to a solicitor who refers business to the investment adviser (but does not render any investment advice) as long as the solicitor is not subject to a disqualification as set out in section 409.4-412(d), RSMo and the cash fee is paid pursuant to the requirements set out in 17 CFR Section 275.206(4)-3.

(2) Registered investment advisers may receive performance-based fees (fees based upon a share of the capital gains upon, or the capital appreciation of, the funds, or any portion of the funds, of a client) provided that the fees are charged only to qualified clients, as defined in 17 CFR Section 275.205-3, and the fees are fully disclosed in the investment advisory contract.

*Original authority: 409.4-406, RSMo 2003, and 409.6-605, RSMo 2003.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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