This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:38 GMT

Home > Title 7 > Part 7 > Chapter 116 >Subchapter 116.13.html > Rule 116.13
TITLE 7 - BANKING AND SECURITIES
PART 7 - STATE SECURITIES BOARD
CHAPTER 116 - INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES
SUBCHAPTER 116.13.html - null
SECTION/RULE §116.13 - Advisory Fee Requirements
Chapter Review Date 06/28/2024

(a) Any registered investment adviser who wishes to charge 3.0% or greater of the assets under management must disclose that such fee is in excess of the industry norm and that similar advisory services can be obtained for less.(b) Any registered investment adviser who wishes to charge a fee based on a share of the capital gains or the capital appreciation of the funds or any portion of the funds of a client must comply with SEC Rule 205-3 (17 Code of Federal Regulations §275.205-3), which permits the use of such fee if the client is a "qualified client" as defined therein.

Source Note: The provisions of this §116.13 adopted to be effective August 12, 2001, 26 TexReg 5799; amended to be effective November 26, 2001, 26 TexReg 9582; amended to be effective April 3, 2012, 37 TexReg 2166.

View Official Rule