Answer:
✓The adviser had no more than five clients in that state within the last 12 months
✓ The adviser provided advice only to investment companies in that state.
✓The adviser provided advice only to insurance companies in that state
Step-by-step explanation:
THIS IS THE COMPLETE QUESTION BELOW
Under the Uniform Securities Act, an investment adviser who has no place of business in a state is exempt from registration in that state if the adviser provides advice in which of the following situations?
ANSWER:
The Uniform Securities Act can be regarded as is a model law which was set up to serve as starting point as regards to state-level securities regulation. The purpose of this Act is to handle securities fraud at the state level and also to give assistance to the Securities and Exchange Commission (SEC) in aspect of enforcement as well as regulation.
As regards to the scenerio in the question, The investment adviser
✓would not have more than five clients in the whole particular state and within the period of duration of last 12 months.
✓ His advice will Only be towards
investment companies in that state.
✓His advice will Only be towards
insurance companies in that state