Regulation of Investment Adviser Representatives: Rapid Fire

What this video covers

• Why performing just one of five functions (recommending, managing accounts, determining advice, soliciting, or supervising) triggers IAR status, and why purely clerical staff never qualify
• Where a state-registered investment adviser IAR must register versus where a federal covered adviser IAR must register, and why client location does not drive federal covered IAR registration
• How the de minimis exemption requires both zero in-state place of business and five or fewer non-institutional clients in the prior 12 months, and why any office kills the exemption entirely
• The Form U4 filing sequence, irrevocable consent to service of process, and why registration becomes effective at noon on the 30th day without Administrator approval
• Why passing the Series 65 or the Series 66 plus Series 7 combination does not alone make someone an IAR, and why a current professional designation can waive the exam
• Who notifies the Administrator of termination for a state-registered IA versus a federal covered adviser, and why the IAR notifies directly in the latter case
• The shared rules between agent and IAR registration, including tied registration, December 31 annual expiration, and 30-day withdrawal effective date