4580. Books and Records Requirements for Government Distribution and Solicitation Activities
(a) A covered member that engages in distribution or solicitation activities with a government entity on behalf of any investment adviser that provides or is seeking to provide investment advisory services to such government entity shall maintain books and records that pertain to Rule 2030, including a list or other record of:
(1) The names, titles and business and residence addresses of all covered associates of the covered member;
(2) The name and business address of each investment adviser on behalf of which the covered member has engaged in distribution or solicitation activities with a government entity within the past five years, but not prior to August 20, 2017;
(3) The name and business address of all government entities with which the covered member has engaged in distribution or solicitation activities for compensation on behalf of an investment adviser, or which are or were investors in any covered investment pool on behalf of which the covered member has engaged in distribution or solicitation activities with the government entity on behalf of the investment adviser to the covered investment pool, within the past five years, but not prior to August 20, 2017; and
(4) All direct or indirect contributions made by the covered member or any of its covered associates to an official of a government entity, or direct or indirect payments to a political party of a state or political subdivision thereof, or to a political action committee.
(b) Records relating to the contributions and payments referred to in paragraph (a)(4) must be listed in chronological order and indicate:
(1) The name and title of each contributor;
(2) The name and title (including any city/county/state or other political subdivision) of each recipient of a contribution or payment;
(3) The amount and date of each contribution or payment; and
(4) Whether any such contribution was the subject of the exception for certain returned contributions pursuant to Rule 2030.
(c) The terms used in this Rule 4580 shall have the same meaning as defined in Rule 2030.
(d) Any book or other record made, kept, maintained and preserved in compliance with SEA Rules 17a-3 and 17a-4, or with rules adopted by the Municipal Securities Rulemaking Board, which are substantially the same as the book or other record required to be made, kept, maintained and preserved under this Rule, shall be deemed to be made, kept, maintained and preserved in compliance with this Rule.
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Adopted by SR-FINRA-2015-056 eff. Aug. 20, 2017. Selected Notice: 16-40 |