17 CFR § 275.222-2 - Definition of “client” for purposes of the national de minimis standard.

For purposes of section 222(d)(2) of the Act (15 U.S.C. 80b–18a(d)(2)), an investment adviser may rely upon the definition of “client” provided by § 275.202(a)(30)–1, without giving regard to paragraph (b)(4) of that section.

[76 FR 43014, July 19, 2011]