Does the author of a financial newsletter service have to register as a financial advisor with the SEC?

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Does the author of a financial newsletter service have to register as a financial advisor with the SEC?

Asked on January 25, 2012 under Business Law, Louisiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Section 202 (a)(11) of the Investment Advisers Act of 1940 (15 U.S.C. section 80b-2(a)(11) governs the requirements as to who is required to register as a financial advisor with the Securities and Exchange Commission (SEC).

The above act specifically excludes from registration the author of any newpaper, periodical or newsletter from registering as a financial advisor with the SEC if the author is simply writing an article and is not giving any financial advice to a specific person or a specific group of people.


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