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Investment Adviser Firms or Professionals
Which of the following are defined as investment advisers under the Uniform Securities Act?The Uniform Securities Act defines an investment adviser representative as a partner, officer, director, or other individual employed by an investment adviser who makes recommendations; renders advice; manages accounts; solicits the sale of advisory services; or supervises employees who perform any of these functions.
Which of the following are not required to register as investment advisers under the Investment Advisers Act of 1940 persons who give advice?Under the Investment Advisers Act of 1940, which of the following persons is exempt from registration with the SEC? Under the Investment Advisers Act of 1940, anyone who gives advice about securities only to insurance companies is exempt from registration.
Which of the following must be registered with the SEC as an investment adviser under the Investment Advisers Act of 1940?The investment adviser (the firm) must be registered with the SEC if it has $100,000,000 or more of assets under management (a federal covered adviser). If the firm has less than $100,000,000 of assets under management, then it only is required to register with the State.
Which of the following is exempt from the requirement to register as an investment adviser in a state?Exempt from registration as an investment adviser (meaning these are defined as investment advisers but they do not have to register in the State) is any person with no place of business in the State whose only clients are other advisers; federal covered advisers; broker-dealers; deposit taking institutions; insurance ...
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