A person acting as a purchaser representative should consider the applicability of the registration and antifraud provisions relating to brokers and dealers under the Securities Exchange Act of 1934 (Exchange Act) (15 U.S.C. 78a et seq., as amended) and relating to investment advisers under the Investment Advisers Act of 1940.
17 CFR § 230.501
As used in Regulation D ( 230.500 et seq. of this chapter), the following terms shall have the meaning indicated: