Regulatory Alerts2023-08-01 | 2023-16287Added
Exemption for Certain Investment Advisers Operating Through the Internet
The Securities and Exchange Commission proposes amendments to the Internet Adviser Exemption under the Investment Advisers Act of 1940 to modernize conditions for advisers providing services online. The proposal updates the definition of an interactive website and eliminates the de minimis exception for non-internet clients to reflect technological and industry evolution. Additionally, the Commission seeks to amend Form ADV to align instructions with the revised rule and require new representations regarding reliance on the exemption.
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