Series 63 practice questionmediumFederal Covered Advisers – Notice Filing
Which of the following may a state require of a federal covered adviser under the USA?
- AFiling of notice documents and fees.✓ Correct answer
- BRegistration as an investment adviser.
- CSubmission of audited financial statements annually.
- DRegistration of all investment adviser representatives.
Explanation
Why A — Filing of notice documents and fees.
States may require federal covered advisers to submit notice filings and pay fees (Section 405). They may not require full registration, audited financials, or IAR registration unless the IAR has a place of business in the state.
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