# kaal:claim:2337268-034

**Claim.** A person who provides investment advice over the Internet escapes registration only if the advice is impersonal; personalized advice delivered through chat rooms and websites can trigger the registration requirement.

**Type.** condition  **Support.** argued

**Holds when.**

- persons providing investment advice via Internet chat rooms and websites

**Source quote.**

> Registration is not required if the person provides impersonal investment advice.97

**From.** Wulf A. Kaal, *Investment Adviser Regulation* (2013), 8. Internet Related Updates, page 20

**Cite as.** Wulf A. Kaal, Investment Adviser Regulation (2013). SSRN: https://ssrn.com/abstract=2337268

**Verify.** sha256 of source PDF `7075ce35282a8ee75b81ae3dec0e19f68631beae7f3c3a00ab2827538dc9e302` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Investment%20Adviser%20Regulation.pdf

**Topics.** securities-law

**Keywords.** internet-advice, impersonal-advice, registration, chat-rooms

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.