Section 75-71-502 - Prohibited conduct in providing investment advice(a)Fraud in providing investment advice. It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as part of a regular business, issues or promulgates analyses or reports relating to securities: (1) To employ a device, scheme, or artifice to defraud another person; or(2) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.(b)Rules specifying contents of advisory contract. A rule adopted under this chapter may specify the contents of an investment advisory contract entered into, extended, or renewed by an investment adviser. Laws, 2009, ch. 528, § 1, eff. 1/1/2010.