25009.5. (a) Investment adviser representative or associated person of an investment adviser means any partner, officer, director of (or a person occupying a similar status or performing similar functions) or other individual, except clerical or ministerial personnel, who is employed by or associated with, or subject to the supervision and control of, an investment adviser that has obtained a certificate or that is required to obtain a certificate under this law, and who does any of the following:
(1) Makes any recommendations or otherwise renders advice regarding securities.
(2) Manages accounts or portfolios of clients.
(3) Determines which recommendation or advice regarding securities should be given.
(4) Solicits, offers, or negotiates for the sale or sells investment advisory services.
(5) Supervises employees who perform any of the foregoing.
(b) Investment adviser representative means, with respect to an investment adviser subject to Section 25230.1, a person defined as an investment adviser representative by Rule 203A-3 of the Securities and Exchange Commission (17 C.F.R. 275.203A-3) and who has a place of business in this state.
(Added by Stats. 1997, Ch. 391, Sec. 2. Effective January 1, 1998.)Section: Previous 25005 25005.1 25006 25007 25008 25009 25009.1 25009.5 25010 25011 25012 25013 25014 25014.5 25014.6 Next
Last modified: September 9, 2016