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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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I want to start a business recommending stock market ideas/securities.

Resolved Question:

I want to start a business recommending stock market ideas/securities. Following are my questions:

1. Should I register my business and if yes, which state offer me the best advantage. This business will be done online. I am a resident of NJ.
2.Does it require any regulatory approval? By reading competitors' website, it seems that publishers are excluded from requirement of registering as an investment adviser.See the quote from a competitors' website

"Neither the 7-Minute Trader nor its parent company, Global Investor Services, Inc. (referred to collectively as "7-Minute Trader" or "we" or "us" or "our") are registered as an investment adviser. The 7-Minute Trader relies upon the "publishers' exclusion" from the definition of investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. As such, the 7-Minute Trader does not offer or provide personalized advice. We publish information about markets in which we believe our readers may be interested and this information reflects our sincere opinions. The information that we provide or that is derived from our website and or services is not intended to be, and should not be construed in any manner whatsoever as, personalized advice. Also, our website and or services and the information provided by us should not be construed by any subscriber or prospective subscriber as the 7-Minute Trader's solicitation to effect, or attempt to effect, any transaction in a security. Investments in the securities markets, and especially in options, are speculative and involve substantial risk. The information that we provide or that is derived from our website and or services should not be a substitute for advice from an investment professional. We encourage you to obtain personal advice from your professional investment advisor and to make independent investigations before acting on the information that you obtain from the 7-Minute Trader or derive from our website and or services. Only you can determine what level of risk is appropriate for you."
Submitted: 4 years ago.
Category: Business Law
Expert:  Law Pro replied 4 years ago.
Are you a licensed securities broker anywhere?
Customer: replied 4 years ago.
No, I am not licensed. Is there any state where licensing is not a requirement for such a business.
Expert:  Law Pro replied 4 years ago.
Nope - none.

You must be licensed in all 50 states to give any type of investment advice.
Law Pro and other Business Law Specialists are ready to help you