Does maintaining a place of business in the state trigger a notice filing (regardless of number of clients)?
UTAH CODE ANN. § 61-1-3 (3)(b), § 61-1-3 (5).
What is the maximum number of clients adviser can have in the state without triggering a notice filing?
UTAH CODE ANN. § 61-1-3 (3)(c)(iii)(2017).
What sorts of clients are not counted for purposes of determining whether to notice file?
(i) one or more of the following whether acting for itself or as a trustee with investment control:
- an investment company as defined in the Investment Company Act of 1940;
- another investment adviser;
- a federal covered adviser;
- a broker-dealer;
- a depository institution;
- a trust company;
- an insurance company;
- an employee benefit plan with assets of not less than $1,000,000; or
- a governmental agency or instrumentality; or
(ii) other institutional investors as are designated by rule or order of the director.
UTAH CODE ANN. § 61-1-3(3)(b).
Viewing of these pages does not establish an attorney-client relationship. The information above is informational purposes only and should not be construed as legal advice. A lawyer should be consulted to confirm both applicability and any other issues that might affect or apply to your situation.