502.405 Federal covered investment adviser notice filing requirement.
1. Notice filing requirement. Except with respect to a federal covered investment adviser described in subsection 2, 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 3.
2. Notice filing requirement not required. The following federal covered investment advisers are not required to comply with subsection 3:
a. A federal covered investment adviser without a place of business in this state if its only clients in this state are any of the following:
(1) Federal covered investment advisers, investment advisers registered under this chapter, and broker-dealers registered under this chapter.
(2) Institutional investors.
(3) Bona fide preexisting clients whose principal places of residence are not in this state.
(4) Other clients specified by rule adopted or order issued under this chapter.
b. 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 resident in this state in addition to those specified under paragraph “a”.
c. Any other person excluded by rule adopted or order issued under this chapter.
3. Notice filing procedure. A person acting as a federal covered investment adviser, not excluded under subsection 2, shall file a notice, a consent to service of process complying with section 502.611, and such records as have been filed with the securities and exchange commission under the Investment Advisers Act of 1940 required by rule adopted or order issued under this chapter and pay the fees specified in section 502.410, subsection 5.
4. Effectiveness of filing. The notice under subsection 3 becomes effective upon its filing.
[SS15, §1920-u19; C24, 27, §8577; C31, 35, §8581-c21; C39, §8581.26; C46, 50, 54, 58, 62, 66, 71, 73, 75, §502.26; C77, 79, 81, §502.405]
2004 Acts, ch 1161, §30, 68
Referred to in §502.404, 502.407, 502.408, 502.410, 502.610
Structure Iowa Code
Chapter 502 - UNIFORM SECURITIES ACT (BLUE SKY LAW)
Section 502.101 - Short title.
Section 502.102 - Definitions.
Section 502.103 - References to federal statutes.
Section 502.104 - References to federal agencies.
Section 502.105 - Electronic records and signatures.
Section 502.201 - Exempt securities.
Section 502.202 - Exempt transactions.
Section 502.203 - Additional exemptions and waivers.
Section 502.204 - Denial, suspension, revocation, condition, or limitation of exemptions.
Section 502.207B - Legislative review and oversight.
Section 502.301 - Securities registration requirement.
Section 502.302 - Notice filing.
Section 502.303 - Securities registration by coordination.
Section 502.304 - Securities registration by qualification.
Section 502.304A - Expedited registration by filing for small issuers.
Section 502.305 - Securities registration filings.
Section 502.306 - Denial, suspension, and revocation of securities registration.
Section 502.307 - Waiver and modification.
Section 502.321A - Special definitions.
Section 502.321B - Registration requirements — hearing.
Section 502.321C - Filing of solicitation materials.
Section 502.321D - Fraudulent, deceptive, or manipulative acts and practices prohibited.
Section 502.321E - Limitations on offers and offerors.
Section 502.321F - Administration — rules and orders.
Section 502.321H - Nonapplication of corporate takeover law.
Section 502.321I - Application of securities law.
Section 502.401 - Broker-dealer registration requirement and exemptions.
Section 502.402 - Agent registration requirement and exemptions.
Section 502.403 - Investment adviser registration requirement and exemptions.
Section 502.404 - Investment adviser representative registration requirement and exemptions.
Section 502.405 - Federal covered investment adviser notice filing requirement.
Section 502.407 - Succession and change in registration of broker-dealer or investment adviser.
Section 502.410 - Filing fees.
Section 502.411 - Postregistration requirements.
Section 502.501 - General fraud.
Section 502.501A - Prohibited transactions of broker-dealers and agents.
Section 502.502 - Prohibited conduct in providing investment advice.
Section 502.502A - Advisory misconduct.
Section 502.503 - Evidentiary burden.
Section 502.504 - Filing of sales and advertising literature.
Section 502.505 - Misleading filings.
Section 502.506A - Misstatements in publicity prohibited.
Section 502.507 - Qualified immunity.
Section 502.508 - Criminal penalties.
Section 502.509 - Civil liability.
Section 502.510 - Rescission offers.
Section 502.601 - Administration.
Section 502.602 - Investigations and subpoenas.
Section 502.603 - Civil enforcement.
Section 502.603A - Cooperation with other agencies.
Section 502.604 - Administrative enforcement.
Section 502.604A - Law enforcement authority.
Section 502.604B - Limited law enforcement authority.
Section 502.605 - Rules, forms, orders, interpretative opinions, and hearings.
Section 502.606 - Administrative files and opinions.
Section 502.607 - Public records — confidentiality.
Section 502.608 - Uniformity and cooperation with other agencies.
Section 502.609 - Judicial review of orders.
Section 502.610 - Jurisdiction.
Section 502.611 - Service of process.
Section 502.612 - Severability clause.
Section 502.701 - Public joint investment trusts.
Section 502.801 - Definitions.
Section 502.802 - Notification to administrator.
Section 502.803 - Notification to administrator — immunity.
Section 502.804 - Notification to permissible third party.
Section 502.805 - Notification to permissible third party — immunity.
Section 502.806 - Disbursements or transactions — delay.
Section 502.807 - Disbursements or transactions — delay — immunity.