In addition to any recordkeeping requirement, if an investment adviser is registered or required to be registered under the Investment Advisers Act of 1940 and the investment adviser has custody of client funds or securities because the investment adviser advises a pooled investment vehicle, the investment adviser must keep:
1. A true, accurate and current record of each account statement;2. Where the investment adviser is subject to the requirements set forth in paragraph (d) of subsection 2 of section 7, records which include:(a) The date of any audit;(b) A copy of any audited financial statement; and(c) Evidence of the mailing of the audited financial statement to each limited partner, member or other beneficial owner within 120 days after the end of the fiscal year of the investment adviser; and3. Where the investment adviser is subject to the requirements set forth in paragraph (e) of subsection 2 of section 7, records which include:(a) A copy of the written agreement with the independent party reviewing all fees and expenses, indicating the responsibilities of the independent party; and(b) A copy of each invoice and receipt showing approval by the independent party for payment through the qualified custodian.Nev. Admin. Code § 90.Sec. 17
Added to NAC by Sec'y of State by R018-21A, eff. 6/2/2023