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Does Virginia have a deminimus limit on unregistered activity by investment advisors?

April 26, 2017activity advisors Investment limit unregistered Virginia

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Does Virginia have a deminimus limit on unregistered activity by investment advisors?

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A. Yes. The deminimus is the same as prescribed at the federal level, it allows an investment advisor who does not maintain a place of business in Virginia, to have five (5) Virginia clients prior to the requirement of registration. The rule site is 21 VAC 5-80-210 B.