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11 Cards in this Set

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Fiancial planners, sports and entertainment representatives, and pension consultants may all be considered investment advisers according to this...
SEC Release 1092
Contains information that the adviser is required to disclose to clients and may be used to satisfy the Brochure Rule
Form ADV Part II
Divieded the responsibility for regulating investment advisers between the states and the federal government
National Securities Markets Improvement Act (NSMIA)
The federal exclusions under the Advisers act includes four groups of professionals
* Lawyers
* Accountants
* Engineers
* Teachers
Contains information that the adviser is required to disclose to regulators
Form ADV Part I
A person who acts on behalf of and for the benefit of someone else. Examples include the executor of an estate, a custodian for a minor in a UTMA/UGMA account, a pension plan administrator under ERISA, and an IAR providine advisor products and services to clients.
Fiduciary
When a firm buys or sells a security on a client's behalf and charges a commission for the service it is acting as a
Agent (Broker)
A fee that a broker-dealer receives when it acts as an agent and executes a transaction on a client's behalf
Commission
Sets forth rules regarding registration, record keeping, contracts, advertising, and interactions with clients.
Investmetn Advisers Act of 1940
A firm that buys or sells the security for itself, at its own risk is acting as a
Principal (Dealer)
What a firm receives when it acts as a principal and buys or sells a security from its own account
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