Investment Advisers Act of 1940

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Investment Advisers Act

Legislation in the United States defining an investment adviser as a person who provides professional advice on how to manage investments or makes investments on behalf of a client. Under amendments to the Advisers Act, investment advisers with more than $25 million under management are required to register with the SEC. The act defines the liability of investment advisers and provides guidelines on the fees and commissions they may collect. Additionally, the Act provides certain anti-fraud provisions protecting investors from predatory advisers, even those not registered with the SEC.

Investment Advisers Act of 1940

A federal act that defines what an investment adviser is, requires such advisors to register with the SEC, and sets standards for advertising, disclosure, fees, liability, and record keeping. The Act was passed to protect investors. Also called Advisers Act.
References in periodicals archive ?
Sidus Investment Management, LLC, is a Delaware limited liability company as an Investment Manager registered with the United States Exchange Commission as a registered investment advisor under the United States Investment Advisors Act of 1940.
LM Capital Group, LLC is a San Diego-based independent investment advisory firm registered under the Investment Advisors Act of 1940.
LM Capital Group LLC is a San Diego-based independent investment advisory firm registered under the Investment Advisors Act of 1940.

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