The Moon orbits the Earth, and the Earth orbits the Sun, and the Sun orbits the center of the Milky Way, which orbits within the Local Group, which is a part of the Virgo Supercluster. The motions of objects in the cosmos act like a set of Russian nesting dolls, with things orbiting things, which orbit other things.he Moon orbits the Earth, and the Earth orbits the Sun, and the Sun orbits the center of the Milky Way, which orbits within the Local Group, which is a part of the Virgo Supercluster. The motions of objects in the cosmos act like a set of Russian nesting dolls, with things orbiting things, which orbit other things.
The Securities and Exchange Commission (the Commission or SEC) regulates investment advisers, primarily under the Investment Advisers Act of 1940 (the Advisers Act), and the rules adopted under that statute (the rules).
Similar to an SEC registered investment advisor firm, a state registered investment advisor firm is required to register as an investment advisor with each state securities regulator where it maintains a place of business or where the firm has more than 5 investment advisory clients.f a firm registers with the SEC as an investment advisor, but does not acquire $100 million in AUM within 120 days, the firm must deregister as an investment advisor with the SEC and transfer its investment advisor registration to the state securities regulator.