Page:United States Statutes at Large Volume 89.djvu/226

 89 STAT. 166

"Investment adviser." 15 USC 80a-9.

15 USC 80a-35.

15 USC 80b-20.

Investment adviser, registration. 15 USC 80b-3.

PUBLIC LAW 94-29—JUNE 4, 1975 " (1) for a period of thirty days if the vacancy or vacancies may be filled by action of the board of directors; "(2) for a period of sixty days if a vote of stockholders is required to fill the vacancy or vacancies; or "(3) for such longer period as the Commission may prescribe, by rules and regulations upon its own motion or by order upon application, as not inconsistent with the protection of investors.", (6) Section 9 thereof is amended by adding at the end thereof the following new subsection: "(d) For the purposes of subsection (a) through (c) of this section, the term 'investment adviser' includes a corporate or other trustee performing the functions of an investment adviser.". (7) Section 36 thereof is further amended by adding at the end thereof the following new subsection: "(d) For the purposes of subsections (a) through (c) of this section, the term 'investment adviser' includes a corporate or other trustee performing the functions of an investment adviser.". SEC. 29. The Investment Advisers Act of 1940 (15 U.S.C. 80b) is amended as follows: (1) Subsection (c) of section 203 thereof is amended to read as follows: "(c)(1) An investment adviser, or any person who presently contemplates becoming an investment adviser, may be registered by filing with the Commission an application for registration in such form and containing such of the following information and documents as the Commission, by rule, may prescribe as necessary or appropriate in the public interest or for the protection of investors: "(A) the name and form of organization under which the investment adviser engages or intends to engage in business; the name of the State or other sovereign power under which such investment adviser is organized; the location of his or its principal business office and branch offices, if any; the names and addresses of his or its partners, officers, directors, and persons performing similar functions or, if such an investment adviser be an individual, of such individual; and the number of his or its employees; "(B) the education, the business affiliations for the past ten years, and the present business affiliations of such investment adviser and of his or its partners, officers, directors, and persons performing similar functions and of any controlling person thereof; "(C) the nature of the business of such investment adviser, including the manner of giving advice and rendering analyses or reports; "(D) a balance sheet certified by an independent public accountant and other financial statements (which shall, as the Commission specifies, be certified); " (E) the nature and scope of the authority of such investment adviser with respect to clients' funds and accounts; " (F) the basis or bases upon which such investment adviser is compensated; "(G) whether such investment adviser, or any person associated with such investment adviser, is subject to any disqualification which would be a basis for denial, suspension, or revocation of registration of such investment adviser under the provisions of subsection (e) of this section; and " (H) a statement as to whether the principal business of such investment adviser consists or is to consist of acting as invest-

�