SEC. 75-71-333. Post-registration requirements.
(a) Books and accounts. Every registered broker-dealer and investment adviser shall make and keep such accounts, correspondence, memoranda, papers, books and other records as the secretary of state by rule prescribes. All records so required shall be preserved for three (3) years unless the secretary of state by rule prescribes otherwise.
(b) Financial Reports. Every registered broker-dealer and investment adviser shall file such financial reports as the secretary of state by rule prescribes.
(c) Corrections. If the information contained in any document filed with the secretary of state is or becomes inaccurate or incomplete in any material respect, the registrant shall promptly file a correcting amendment.
(d) Inspection Power. All of the records referred to in subsection (a) of this section are subject at any time to such reasonable periodic, special or other examinations by representatives of the secretary of state, within or without the state of Mississippi, as the secretary of state deems necessary or appropriate in the public interest or for the protection of investors.
SOURCES: Laws, 1981, ch. 521, Sec. 203, eff from and after July 1, 1981.
1997 Amendment:
SECTION 11. Section 75-71-333, Mississippi Code of 1972, is amended as follows:
75-71-333. (a) Books and accounts. Every registered broker-dealer and investment adviser shall make and keep such accounts, correspondence, memoranda, papers, books and other records as the Secretary of State * * * prescribes by rule or otherwise, not to exceed the limitations provided in Section 15 of the Securities Exchange Act of 1934 (in the case of a broker-dealer) and Section 222 of the Investment Advisers Act of 1940 (in the case of an investment adviser). All records so required, with respect to a registered investment adviser, shall be preserved for such period as the Secretary of State * * * prescribes by rule or otherwise.
(b) Financial reports. Every registered broker-dealer and investment adviser shall file such financial reports as the Secretary of State * * * prescribes by rule or otherwise, not to exceed the limitations provided in Section 15 of the Securities Exchange Act of 1934 (in the case of a broker-dealer) and Section 222 of the Investment Advisers Act of 1940 (in the case of an investment adviser).
(c) Corrections. If the information contained in any document filed with the Secretary of State is or becomes inaccurate or incomplete in any material respect, the registrant or federal covered adviser shall promptly file a correcting amendment if the document is filed with respect to a registrant or when such amendment is required to be filed with the United States Securities and Exchange Commission if the document is filed with respect to a federal covered adviser, unless notification of the correction has been given under Section 75-71-301.
(d) Inspection Power. All of the records referred to in subsection (a) of this section are subject at any time to such reasonable periodic, special or other examinations by representatives of the Secretary of State, within or without the State of Mississippi, as the Secretary of State deems necessary or appropriate in the public interest or for the protection of investors.
SOURCE: 1997 Laws, Chapter 480, Sec. 11, HB1124, Effective AP-March 27, 1997.