Registration and Licensure Exemptions for Dealers, Salesmen, Investment Advisers, and Investment Adviser Representatives
DEALER AND SALESMAN REGISTRATION EXEMPTIONS
The Securities Act of Arizona does not provide a de minimis exemption from dealer or salesman registration requirements.
Provisions that provide an exemption from securities registration requirements may include an exemption from dealer and salesman registration requirements. See Securities Registration Exemptions for specific details. See also A.R.S. § 44-1848(A) and A.A.C. R14-4-104 for exclusions to the exemptions.
A.R.S. § 44-1945(C): exempts from registration salesmen effecting transactions described in §§ 15(h)(2) and (e) of the Securities Exchange Act of 1934.
A.A.C. R14-4-143: dealers and salesmen who use the Internet to distribute information on products and services are not deemed to be selling, purchasing, or offering to sell or buy securities in Arizona if the Internet is used in compliance with rule 143.
A.A.C. R14-4-145: for purposes of electronic venture capital networks, exempts Networks and Operators, as defined by rule 145, from dealer or salesman registration and investment adviser or investment adviser representative licensure.