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