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Senate Bill No. 617

Public Act No. 05-111

AN ACT REQUIRING THE DISCLOSURE OF CERTAIN INFORMATION BY INVESTMENT ADVISERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. (NEW) (Effective October 1, 2005) Each investment adviser required to register under section 36b-6 of the general statutes or investment adviser agent, as defined in section 36b-3 of the general statutes, except an investment adviser representative, as defined in Securities and Exchange Commission Rule 203A-3, 17 CFR 275. 203A-3, shall provide to each customer or client, upon request, a schedule of any charges, fees or penalties imposed on a customer or client for the acquisition, transfer or holding of securities. Such schedule shall fully disclose any variance, advantage or economy of volume purchases to be realized by the customer or client.

Approved June 24, 2005