A client may never sign any form or agree to waive their rights to sue an adviser. Any form or clause under which a client waves their rights would be unenforceable.

All registrations at the state level must be renewed or re registered on December 31st of every year.

An investment adviser may not disclose any client information to a third party without the written permission of the client or without a court order or subpoena. The fact that the son will be the Executor of the estate is not relevant while his mother, the client is alive.

If an investment adviser opens accounts for 11 individuals or opens an office in state B the investment adviser would be required to register in state B.

An administrator may do all of the items listed except execute a search warrant. A court order is required to execute a search warrant.

When an agent leaves a firm the agent, the old firm and the new firm are all required to notify the administrator. The agent is not required to contact the clients to tell them that he is leaving.

The issuer of common stock listed on the Toronto Stock Exchange would have to register the securities with the state administrator

Both the weak and semi strong views of the efficient market hypothesis believe that unknown inside information is not reflected in asset prices and could be used to earn a profit. The weak view of this theory believes that prices in the market place reflect only past information regarding a security. The semi strong view believes that prices reflect all past and current publicly available information regarding a security. The strong view believes that past, present and even nonpublic information is already reflected in a security’s price.

An advisory company many charge fees for advice and receive commissions for executing orders for the clients so long as it is disclosed to the clients.