Final answer:
The statement is true. Investment advisers are required to store originals of received communications and copies of sent written communications.
Step-by-step explanation:
The statement is true. The rules adopted under Advisers Act Section 204 indeed require investment advisers to store originals of all communications received and copies of all written communications sent relating to recommendations made or proposed to be made and any advice given or proposed to be given.
This rule is implemented to ensure transparency and accountability in the investment advisory industry. By preserving and maintaining records of their communications, investment advisers can demonstrate compliance with regulations, handle disputes or complaints, and provide evidence of their recommendations or advice.
For example, if an investment adviser recommends a particular stock to a client, the adviser must keep a record of the communication in which the recommendation was made, whether it was sent through email, written letter, or any other form.