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As for the rest of it, you need to talk to a securities lawyer yesterday. I don't have a good feeling about what you're doing as it relates to securities law. I may be totally wrong, but were I you I'd find out.

There are usually exceptions based on number of clients and amount of assets under management, but the limits are set by each state independently and you are considered to be subject to the jurisdiction of any state where you are located (residence or office) or where any client resides. I second Phil's advice to seek out a securities lawyer for advice.

Ira
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