Record that no accountability statement is prepared
Key facts
- Human involvement
- RedLawyer-led
- How AI is used
- Record whether the policies name a supervised person to administer them, and the page. Write no accountability statement and no map for anyone to sign.
- What the lawyer must review
- 17 C.F.R. section 275.206(4)-7 applies to an investment adviser registered or required to be registered under section 203 of the Investment Advisers Act. It is unlawful, within the meaning of section 206, to provide investment advice unless the adviser adopts and implements written policies and procedures reasonably designed to prevent violations of the Act and rules by the adviser and its supervised persons, reviews the adequacy and effectiveness of those policies no less frequently than annually, and designates a supervised person responsible for administering them. The rule does not require an accountability statement, an accountability map, or a breach-notice deadline. Naming the designated person is not that statement. The lawyer writes any statement. The tool writes nothing that is signed. The Cornell page is not the official edition.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Supporting preparation only. Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. The tool writes nothing into the document. Substantive advice, judgement and any restricted content remain with the responsible human. |
| Lawyer | Perform the substantive analysis and decisions. Independently check any permitted supporting work and approve the exact output for its intended use. |
Checklist
- Calculate operative dates independently from the current rule and actual triggering event. Check exceptions and record the verified deadline.
- Obtain and inspect the relevant current official register or search result. Confirm identities, interests and the date and scope of the search.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.