Which of the following statements is false?
A) A state cannot require a higher minimum net capital for broker-dealers than the amount specified by the Securities Exchange Act of 1934.
B) A state cannot require a higher minimum net capital for investment advisers than the amount specified by the Investment Advisers Act of 1940.
C) The minimum net capital requirement for investment advisers that take custody of their clients' assets is higher than the net capital requirement for advisers who do not take custody of the assets.
D) None of the above statements is false; all are true statements.
Correct Answer:
Verified
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