Sec. 1601. Definition of investment adviser amended to exclude brokers and dealers compensated for certain research services
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/bill/118/hr/2799/ih/section-1601A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 202(a)(11) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(11) ) is amended— by striking
(C)any and inserting (C)(i) any ; by striking dealer and who receives and inserting dealer; and (ii)(I) who receives ; and by inserting ; or
(II)who receives special compensation for research services (as described in section 28(e)(1) of the Securities Exchange Act of 1934 ( after 15 U.S.C. 78bb(e)(1) )) from a client that is directly or indirectly required as a result of laws of a foreign financial regulatory authority to pay special compensation for such services compensation therefor .
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- 15 USC 80b–2(a)(11)
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Sec. 1601
Definition of investment adviser amended to exclude brokers and dealers compensated for certain research services
Cite15 USC 80b–2(a)(11)
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