Question of the Week

Under the Uniform Securities Act, registration requirements for an investment adviser representative may include all of the following EXCEPT:

A) Minimum net capital
B) Passing a qualification exam
C) Filing a consent to service of process
D) Posting a surety bond


Answer:

The correct answer is a)

Investment advisor representatives do not need to include a minimum amount of net capital since only an investment adviser or a broker-dealer would need to prove this requirement. However, the investment adviser representative may be required to pass an exam, file a consent to service of process and post a surety bond, however (an investment adviser would fall under these same requirements as well).


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