La. Admin. Code tit. 10 § XIII-1301

Current through Register Vol. 50, No. 11, November 20, 2024

Section XIII-1301 - Definitions

Third-Party Solicitor-an investment adviser representative who meets all of the following criteria:

1. investment advisory business consists solely of referring individuals to other investment adviser firm(s);

2. provides no advice to individuals regarding specific investments;

3. fees consist entirely of referral fees received from the investment adviser firms to whom the investment adviser representative makes referrals.

La. Admin. Code tit. 10, § XIII-1301

Promulgated by the Office of the Governor, Office of Financial Institutions, LR 32:2055 (November 2006), effective January 1, 2007, amended LR 34:2125 (October 2008), Amended LR 421088 (7/1/2016).

AUTHORITY NOTE: Promulgated in accordance with R.S.51:703(D).