NYS Rules for Investment Advisers - Balance Sheets and income Statements under GAAP

NYS Rules with Relevance to Investment Advisers and Financials in New York State:  OFFICIAL COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK

TITLE 13. DEPARTMENT OF LAW

CHAPTER II. SECURITIES TRANSACTIONS AND PERSONNEL

SUBCHAPTER A. SECURITIES--GENERAL

PART 11. INVESTMENT ADVISORY SERVICESCurrent through February 29, 2012

* Section 11.14.* Financial statements.

(a) Financial statements of an investment adviser shall be prepared in accordance with generally accepted accounting principles including reserves or liabilities for unfulfilled subscriptions. Where financial statements are unaudited by an independent public accountant, a certification by management is required attesting to the accuracy of such statements.

(b) Each investment adviser filing an initial registration through the IARD shall submit a balance sheet and an income statement as of the close of its last fiscal or calendar year as prepared by the adviser's accountant or by management. Where the financial statements submitted are more than 90 days old, an interim balance sheet no more than 90 days old shall also be submitted directly to the Department of Law.

(c) Annually, each registered investment adviser shall submit a balance sheet and an income statement as of the close of its last fiscal or calendar year within 90 days after completion of its fiscal or calendar year end directly to the Department of Law.

13 CRR-NY 11.14
13 CRR-NY 11.14
2011 WL 74145528
13 CRR-NY 11.14



As of Read date 6/13/12 ALL NYS Laws are subject to change and update and must be confirmed as filing or relying and this citation is from the unofficial rules of NYS. For Legal Services or Analysis  you should seek the services of a Licensed New York State Attorney. For support services on US GAAP Financials or Taxes for Investment Advisers we are available to support your needs through direct services or referrals depending on the nature of services. Client services correspond to available services in compliance to the rules from the Federal, State and Local levels.


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