New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 11 - SECURITIES
Part 6 - INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES RECORDS
Section 12.11.6.7 - DEFINITIONS
Universal Citation: 12 NM Admin Code 12.11.6.7
Current through Register Vol. 35, No. 18, September 24, 2024
For purposes of 12.11.6 NMAC:
A. "discretionary power" shall not include discretion as to the price at which or the time when a transaction is or is to be effected if, before the order is given by the investment adviser, the client has directed or approved the purchase or sale of a definite amount of the particular security; and
B. "investment supervisory services" means the giving of continuous advice as to the investment of funds on the basis of the individual needs of each client.
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