Review Topics
Practice Exams
When taking your exam, don't think about the song "Camptown Races." (We said, DON'T think about the song. Or going to the bathroom.)

Regulation Regurgitation

The Investment Advisers Act of 1940 and the Uniform Securities Act define an investment adviser as:

Any person who, for compensation, engages in the business of advising others as the value of securities or the advisability of investing in securities or, as part of a regular business, issues analyses or reports concerning securities.

They define a broker-dealer as:

Any person regularly engaged in the business of effecting transactions in securities for the account of others.

Before we dig too...

Looking for more? Why is this annoying box in the way? It's because you haven't paid for the course yet!

Next: Registering Securities  
  Prev: Remedies and Administrative Provisions