Flashcards in Chapter 2 - Investment Adviser Representatives Deck (12):
Investment adviser representatives are basically just investment advisers who chose to ______
work for a registered investment adviser, pretty much have same roles and responsibilities
IARs have same exemptions to registration at the state-level as IAs,
- no office in that state
- five or fewer non-institutional clients
IAs are responsible for for supervising _____ who work for them
Partners, officers and directors of an IA are ________ registered as ______ when the IA registers
automatically registered as IARs
An IAR application becomes effective at ______ on the _____ after application is initially filed.
Noon on the 30th day
State admin has ____ to initiate a hearing based on application
IAR registration remains effective until _____- on ________ in the year that it was filed.
midnight of December 31st
IARs have a net capital requirement. T/F
IAR post-registration requirements aren't many, but would include
- no breaking the law
- renew in a timely manner
- continuing education (state level rules)
Responsibility to file termination paperwork for an IAR falls on the _____, except when a _____ is federally covered, then the _____ is responsible to remind them.
IA, except when the IA is federally covered and then the IAR is required to remind them
Notice of Termination needs to be filed