Laws & RegulationsPregunta 12 de 100
A broker-dealer with no place of business in a state deals exclusively with which type of client and may qualify for an exemption from registration in that state?
a.Retail walk-in customers
b.Institutional clients such as other broker-dealers and banks
c.First-time individual investors
d.Clients referred by local advertising
Explicación
A broker-dealer with no place of business in the state may be exempt from registration if it deals only with institutional clients, other broker-dealers, or issuers. Dealing with retail customers in the state generally triggers registration. The exemption is designed for limited, professional-to-professional activity.
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