When Must An Investment Advisor Register With The SEC? The SEC requires an investment adviser to register with the SEC if it has assets under management of at least $100 million or the investment adviser provides investment advice to an investment company registered under the Investment Company Act of 1940 (SEC Rule 203A-1). Do investment
Who Is An Exempt Reporting Adviser? What is an Exempt Reporting Adviser? An exempt reporting adviser is an investment adviser that is not required to register with the SEC or with state securities authorities but is required to file an annual report using a truncated version of Form ADV. Is an exempt reporting adviser regulated?
Which Of The Following Actions By An Investment Adviser Representative Would Be An Unethical Practice Under The Uniform Securities Act? Which of the following actions by an investment adviser representative would be an unethical practice under the Uniform Securities Act? Failing to disclose that recommended investments are being sold as principal by the representative’s own
Which Of The Following Is Not Required To Disclosed In An Investment Advisory Contract Under The Uniform Securities Act? Which of the following is NOT required to be disclosed in an investment advisory contract under the Uniform Securities Act? The Uniform Securities Act does not require an investment advisory contract to disclose the IA’s past
Which State-registered Investment Advisor Must Report That It Takes Custody On Form ADV? Which State-registered investment adviser MUST report that it takes custody on Form ADV? The best answer is B. Taking custody means that the adviser is holding customer funds or securities or has the ability to access customer funds or securities. Which of
Can You Be Registered With Two Investment Advisers? A dual registrant is an individual investment advisor who is registered to multiple investment firms. Most states allow individuals to be dually registered to multiple firms, but there are some states which do not allow this practice. Other states only allow dual registration to affiliated firms. Can
Which Of The Following Is Disclosed In Form ADV Part1? Part 1 requires information about the investment adviser’s business, ownership, clients, employees, business practices, affiliations, and any disciplinary events of the adviser or its employees. Part 1 is organized in a check-the-box, fill-in-the-blank format. What does ADV Part 1 include? Part 1 requires information about
What Is A State Registered Investment Advisor? Have less than $100,000,000 in assets under management. State investment adviser registrants also include investment advisers offering services that solely include financial planning or soliciting clients on behalf of other advisers. Do I need to register as an investment adviser? While there are some exceptions, in general, investment
Are Analysts Registered Reps? Step 1: Sit for and Pass the SIE Exam In 2018, FINRA initiated a new introductory step in the process of earning a securities license and becoming a registered representative in the form of a new exam called the Securities Industry Essentials (SIE) exam. What is the difference between a registered