This law regulates investment advisers. With certain exceptions, this Act requires that firms or sole practitioners compensated for advising others about securities investments must register with the SEC and conform to regulations designed to protect investors. Since the Act was amended in 1996, generally only advisers who have at least $25 million of assets under management or advise a registered investment company must register with the Commission. The full text of this Act is available online at: http://www4.law.cornell.edu/uscode/15/ch2D.html. (The SEC does not control or maintain this site.)
Source: www.sec.gov