§485A-405 Federal covered investment adviser notice filing requirement. (a) Except with respect to a federal covered investment adviser described in subsection (b), it is unlawful for a federal covered investment adviser to transact business in this State as a federal covered investment adviser unless the federal covered investment adviser complies with subsection (c).
(b) The following federal covered investment advisers are not required to comply with subsection (c):
(1) A federal covered investment adviser without a place of business in this State if its only clients in this State are:
(A) Federal covered investment advisers, investment advisers registered under this chapter, and broker-dealers registered under this chapter;
(B) Institutional investors;
(C) Bona fide preexisting clients whose principal places of residence are not in this State; or
(D) Other clients specified by rule adopted or order issued under this chapter;
(2) A federal covered investment adviser without a place of business in this State if the person has had, during the preceding twelve months, not more than five clients that are residents of this State in addition to those specified under paragraph (1); or
(3) Any other person excluded by rule adopted or order issued under this chapter.
(c) A person acting as a federal covered investment adviser not excluded under subsection (b) shall file a notice on a form designated by the commissioner, a consent to service of process complying with section 485A-610, and records that have been filed with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as required by rule adopted or order issued under this chapter, and pay the fees specified in section 485A-410(e).
(d) The notice under subsection (c) becomes effective upon its filing. [L 2006, c 229, pt of §1]
Structure Hawaii Revised Statutes
Title 26. Trade Regulation and Practice
485A-103 References to federal statutes.
485A-104 References to federal agencies.
485A-105 Electronic records and signatures.
485A-203 Additional exemptions and waivers.
485A-204 Denial, suspension, revocation, condition, or limitation of exemptions.
485A-301 Securities registration requirement.
485A-303 Securities registration by qualification.
485A-304 Securities registration filings.
485A-305 Denial, suspension, and revocation of securities registration.
485A-306 Waiver and modification.
485A-401 Broker-dealer registration requirement and exemptions.
485A-402 Agent registration requirement and exemptions.
485A-403 Investment adviser registration requirement and exemptions.
485A-404 Investment adviser representative registration requirement and exemptions.
485A-405 Federal covered investment adviser notice filing requirement.
485A-407 Succession and change in registration of broker-dealer or investment adviser.
485A-411 Postregistration requirements.
485A-502 Prohibited conduct in providing investment advice.
485A-504 Filing of sales and advertising literature.
485A-506 Misrepresentations concerning registration or exemption.
485A-601 Commissioner of securities.
485A-602 Investigations and subpoenas.
485A-603.5 Additional civil penalties for securities violations committed against elders.
485A-604 Administrative enforcement.
485A-606 Rules, forms, orders, interpretative opinions, and hearings.
485A-607 Administrative files and opinions.
485A-608 Public records; confidentiality.
485A-609 Appeals to court, first circuit; time; bonds; costs; decree; further appeal.
485A-701 Application of act to existing proceeding and existing rights and duties.
485A-802 Governmental disclosures.
485A-803 Immunity for governmental disclosures.
485A-804 Third-party disclosures.
485A-805 Immunity for third-party disclosures.
485A-806 Delaying disbursements or transactions.
485A-807 Immunity for delaying disbursements or transactions.