Overview

Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?

Yes.
ARK. CODE ANN. § 23-42-301(c) (2017)
ARK. CODE ANN. § 23-42-102 (9)(E)(i) (2017)

What is the maximum number of clients adviser can have in the state without triggering a notice filing?

5
ARK. CODE ANN. § 23-42-102 (9)(E)(ii) (2017)

What sorts of clients are not counted for purposes of determining whether to notice file?

Other investment advisers, broker-dealers, banks, a savings institution, a savings and loan association, a trust company, an insurance company, an investment company as defined in the Investment Company Act of 1940, a pension or profit-sharing trust, or another financial institution or institutional buyer, whether acting for itself or as a trustee.

ARK. CODE ANN. § 23-42-102 (9)(E)(i) (2017)


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