Investment Adviser Representative Regulation: Rapid Fire

What this video covers

• The five functions that trigger IAR status, and why performing any single one requires registration
• Why solely clerical and ministerial staff are categorically excluded from IAR registration even when employed by an investment adviser (IA)
• The state-level registration requirement for all IARs, including those working for federally covered advisers, and the Form U4 filing through the IARD (Investment Adviser Registration Depository) system
• The federal covered adviser IAR test: more than 5 natural-person clients and more than 10% of total clients
• The de minimis exemption's two-part requirement: no place of business in the state and fewer than 6 resident clients, and why both conditions must be met
• What counts as a place of business, including a home office used for regular client communication, and why visiting a client's home does not count
• The exam waiver for five qualifying professional designations and why a lapsed designation kills the waiver