☰ Revisor of Missouri

Title XXVI TRADE AND COMMERCE

Chapter 409

< > Effective - 01 Sep 2003, see footnote bottom

  409.5-502.  Prohibited conduct in providing investment advice. — (a)  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)  A rule adopted under this act may define an act, practice, or course of business of an investment adviser or an investment adviser representative, other than a supervised person of a federal covered investment adviser, as fraudulent, deceptive, or manipulative, and prescribe means reasonably designed to prevent investment advisers and investment adviser representatives, other than supervised persons of a federal covered investment adviser, from engaging in acts, practices, and courses of business defined as fraudulent, deceptive, or manipulative.

  (c)  A rule adopted under this act may specify the contents of an investment advisory contract entered into, extended, or renewed by an investment adviser.

­­--------

(L. 2003 H.B. 380)

Effective 9-01-03


---- end of effective  01 Sep 2003 ----

use this link to bookmark section  409.5-502


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@21:48:55.4 31 :)