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which of the following statements regarding the investment advisers act of 1940 and the adviser's brochure is correct? a) each client must receive the brochure no later than 48 hours after entering into the advisory contract. b) annual delivery of a summary of material changes relieves the adviser of the obligation to deliver a brochure. c) each client must receive the brochure no later than the entry into the advisory contract. d) advisers must deliver the brochure to clients for whom they offer impersonal advisory service only when the annual charge does not reach $500.

Respuesta :

Each client must receive the brochure no later than the entering into the advisory contract.

When must a current investment adviser client receive an updated brochure?

According to the brochure rule, new clients must receive the necessary information at least 48 hours before signing an advice contract. Advisors must annually distribute a new brochure to their current clients. The failure to deliver the brochure is seen as fraudulent activity.

What main objective did the Investment Advisers Act of 1940 serve?

The Investment Advisers Act (IAA) was created in 1940 to regulate persons who, in exchange for payment, offer investment advice to individuals, pension funds, and organizations.

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