Minimum Net Worth Requirements for Investment Advisers

PURPOSE: This rule prescribes the minimum capital required of investment advisers. (1) Every investment adviser shall have and maintain net worth (assets minus liabilities), to include all cash, securities, and tangible assets of not less than five thousand dollars ($5,000) except as provided in section (2) of this rule. (2) An investment adviser domiciled in another state must only comply with the net worth requirement of its home state. AUTHORITY: sections 409.4-411(a) and 409.6-605, RSMo 2016.* Original rule filed June 25, 1968, effective Aug. 1, 1968. Amended: Filed May 21, 1969, effective Aug. 1, 1969. Amended: Filed July 21, 1972, effective Aug. 1, 1972. Amended: Filed Nov. 15, 1974, effective Nov. 25, 1974. Amended: Filed July 3, 1989, effective Sept. 28, 1989. Emergency amendment filed Aug. 27, 2003, effective Sept. 12, 2003, expired March 9, 2004. Amended: Filed Aug. 28, 2003, effective Feb. 29, 2004. Amended: Filed July 19, 2019, effective Jan. 30, 2020. *Original authority: 409.4-411, RSMo 2003; 409.6-605, RSMo 2003.