Regulatory Alerts2024-04-09 | 2024-06865Added
Exemption for Certain Investment Advisers Operating Through the Internet
The Securities and Exchange Commission adopted amendments to modernize the Internet Adviser Exemption under the Investment Advisers Act of 1940 to account for technological evolution in the investment advisory industry. The rule requires internet investment advisers to provide advice exclusively through an operational interactive website and eliminates the previous de minimis exception allowing fewer than 15 non-internet clients. These changes also update Form ADV instructions and require additional representations regarding an adviser's reliance on the exemption.
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