Md. Code Regs. 02.02.05.13

Current through Register Vol. 51, No. 24, December 2, 2024

Section 02.02.05.13 - Investment Adviser Supervision

A. An investment adviser registered or required to be registered in this State shall establish, maintain, and enforce written supervisory guidelines that are reasonably designed to:

(1) Supervise the activities of an investment adviser representative and associated person to achieve compliance with the Maryland Securities Act, Corporations and Associations Article, Title 11, Annotated Code of Maryland, and the regulations promulgated under it; and

(2) Achieve compliance by the investment adviser with the Maryland Securities Act, Corporations and Associations Article, Title 11, Annotated Code of Maryland, and the regulations promulgated under it.

B. An investment adviser registered or required to be registered in this State shall designate on the Form ADV one principal responsible for compliance with §A of this regulation.

Md. Code Regs. 02.02.05.13

Regulations .13 adopted as an emergency provision effective August 1, 1990 (17:15 Md. R. 1845)
Regulations .13 adopted as an emergency provision effective December 1, 1990 (17:26 Md. R. 2972)
Regulations .13 adopted effective March 18, 1991 (18:5 Md. R. 592)
Regulations .13D amended as an emergency provision effective September 23, 1991 (18:20 Md. R. 2197); emergency status extended at 18:26 Md. R. 2826; adopted permanently effective February 3, 1992 (19:2 Md. R. 152)