- (1) An investment adviser, and any investment adviser representative, who enters into the contract must reasonably believe immediately before entering into a contract that the contract represents an arm's length arrangement between the parties and that the client, or if the client is a company as defined in Subsection R164-2-3(2) the person representing the company, understands the proposed method of compensation and its risks.
- (2) The representative of a company may be a partner, director, officer or an employee of the company or the trustee, where the company is a trust, or any other person designated by the company or trustee.
KEY: securities, securities regulation, investment advisers, custody requirements
Date of Last Change: March 11, 2022
Notice of Continuation: December 18, 2024
Authorizing, and Implemented or Interpreted Law: 61-1-2; 61-1-24