Statutes, codes, and regulations
Wyoming Administrative Code
Agency 002 - Secretary of StateSubagency 0017 - Securities
Chapter 10 - INVESTMENT ADVISER REGULATIONS
Section 10-7 - Financial Reporting Requirements for Investment Advisers

002-10 Wyo. Code R. § 10-7

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Current through April 27, 2019
Section 10-7 - Financial Reporting Requirements for Investment Advisers

(a) Every registered investment adviser who has custody of client funds or securities or requires payment of advisory fees six months or more in advance and in excess of $500 per client shall file with the Secretary of State an audited balance sheet as of the end of the investment adviser's most recent fiscal year. Each balance sheet filed pursuant to this Section must be:

  • (i) Examined in accordance with generally accepted auditing standards and prepared in conformity with generally accepted accounting principles;
  • (ii) Audited by an independent certified public accountant; and
  • (iii) Accompanied by an opinion of the accountant as to the report of financial position, and by a note stating the principles used to prepare it, the basis of included securities, and any other explanations required for clarity.

(b) Every registered investment adviser who has discretionary authority over client funds or securities, but not custody, shall file with the Secretary of State a balance sheet, which need not be audited, but which must be prepared in accordance with generally accepted accounting principles or such other basis of accounting acceptable to the Secretary of State and represented by the investment adviser or the person who prepared the statement as true and accurate, as of the end of the investment adviser's most recent fiscal year.

(c) The financial statements required by this Section shall be filed with the Secretary of State within 90 days following the end of the investment adviser's fiscal year.

(d) Every investment adviser that has its principal place of business in a state other than this state shall file only such reports as required by the state in which the investment adviser maintains its principal place of business, provided the investment adviser is registered or licensed in such state and is in compliance with such state's financial reporting requirements.

002-10 Wyo. Code R. § 10-7

Adopted, Eff. 10/27/2017.