1E Relating to securities regulation and registration; defining private fund and other related terms; modifying denial, suspension, and revocation; securities registration to include unfair and inequitable terms; requiring investment adviser representatives to register and exempting private fund advisers from the registration requirement; specifying additional requirements for private fund advisers to qualify for the exemption; specifying federal covered investment advisers as ineligible for the private fund advisor exemption; requiring electronic filings; providing a transition period; providing for the grandfathering of the private fund adviser exemption to be applied to investment advisers of certain funds with nonqualified clients under certain conditions; requiring funding portal registration; specifying application for investment adviser representative registration requirements and post registration private funds records and reports; allowing application withdrawal due to inactivity
(me)