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Sophie [7]
2 years ago
10

Which state-registered adviser is considered to have taken custody of client funds?

Business
1 answer:
ra1l [238]2 years ago
7 0

Under the <u>Uniform Securities Act</u>, the threshold where a State-registered adviser is considered to have taken custody of client funds if it charges prepaid advisory fees, is: <u>$500, 6 months or more in advance of rendering services.</u>

<u />

If an advisor either physically possesses or has the legal right to take possession of money or securities belonging to its clients, then it has custody. The term "custody" has been expanded by the rule's revisions to cover situations in which an adviser's related person holds custody of client assets in conjunction with the adviser's advisory services. If an investment adviser's connected broker-dealer holds client assets as a qualified custodian in conjunction with advising services, the investment adviser would be deemed to have custody of those assets.

Consultants may be considered to have taken ownership of customer funds as defined by NASAA when a nationally registered investment manager acknowledges $500 (or more) in advanced consulting fees, 6 months prior to the anticipation of performing services. While the Advisers (Investment) Act of 1940 did not apply to government-registered advisors, it is worth noting that it may have set the maximum at $1,200 among Federal Covered advisors.

To know more about State-registered adviser refer to:

brainly.com/question/17199787

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In the United States, if someone is unable to file by the tax deadline, that person can file an extension but any taxes due must
mrs_skeptik [129]
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3 years ago
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You're about to buy a new car for $10,000. The dealer offers you a one-year loan where you pay $860.66 every month for the next
WINSTONCH [101]

Answer:

The actual effective annual rate is <u>3.33%</u>.

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Effective annual rate can be computed using the following formula:

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Substituting the values into equation (1), we have:

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<span>Hi there,

100% - 15% = 85%
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This is your factor of depreciation
The power it is raised to equals the years
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I hope my answer has come to your help. Thank you for posting your question here in Brainly.

</span>
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