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Exemptions

To Do List

Let's complicate things even moreā€”as if the 63 weren't tricky and convoluted enough.

How about investment advisors who meet the definition of an investment advisor but who don't have to register? These investment advisors are exempt.

If you're an investment adviser, you can get an exemption if you have no place of business in a state (remember the Canadian BDs?) and your only clients in the state are

  • investment companies as defined by the Investment Company Act of 1940
  • other investment a...

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