13 NYCRR 11.13 — read free

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Exemptions and exemptions

Compiled text through Jan 15, 2026

No later Register activity identified in this check.

Dates and status

Compiling agency: Department of Law
Text status: Source receipt
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Latest notice: LAW-15-20-00017-A · Adopted rule · Feb 2, 2021
Source snapshot: Jun 6, 2026

(a)The following are excluded from the definition of investment adviser under 11.12(f) of this Part and are not subject to the registration provisions of GBL section 359-eee and the regulations issued thereunder:

(1)a bank or trust company, unless it is considered an investment adviser under the Investment Advisers Act of 1940;

(2)a lawyer, accountant, engineer or teacher whose performance of these services is solely incidental to the practice of this profession;

(3)a broker or dealer whose performance of these services is solely incidental to the conduct of its business as broker or dealer and who receives no special compensation for them;

(4)a publisher of a bona fide newspaper or news magazine;

(5)a person who sells investment advisory services to less than six persons in this State exclusive of financial institutions and institutional buyers; and

(6)a Federally covered investment adviser.

For purposes of this exemption, the provisions of rule 203(B)(3)-l thereunder shall apply.

(b)The following investment advisers are exempted from the registration provisions and the advertising and literature filing provisions of GBL section 359-eee and the regulations issued thereunder:

(1)a person who gathers raw data from one or more sources and publishes it in chart form without comment as an information source to investors; and

(2)a person who renders investment advice for compensation solely in the form of seminars attended by more than five persons in this State.

State Register activity

2 rulemakings · 4 notices

Investment advisers defined under General Business Law, section 359-eee.
LAW-15-20-00017Department of LawPart-level action
The Register recorded this action against the whole Part, which includes this section (13 NYCRR Part 11).
1. Adopted ruleLAW-15-20-00017-A
  Amendment of Part 11 of Title 13 NYCRR.
  Register Dec 2, 2020 · Filed Nov 17, 2020 · Effective Feb 2, 2021
  Register PDF, pp. 33–38
2. Proposed ruleLAW-15-20-00017-P
  Amendment of Part 11 of Title 13 NYCRR.
  Register Apr 15, 2020
  Register PDF, pp. 14–16
Brokers, dealers and salespersons defined under General Busi- ness Law section 359-e.
LAW-15-20-00018Department of LawPart-level action
The Register recorded this action against the whole Part, which includes this section (13 NYCRR Part 11).
1. Adopted ruleLAW-15-20-00018-A
  Amendment of Part 10 of Title 13 NYCRR.
  Register Dec 2, 2020 · Filed Nov 17, 2020 · Effective Dec 2, 2020
  Register PDF, pp. 38–42
2. Proposed ruleLAW-15-20-00018-P
  Brokers, dealers and salespersons defined under General Busi- ness Law, section 359-e.
  Amendment of Part 10 of Title 13 NYCRR.
  Register Apr 15, 2020
  Register PDF, pp. 16–19

State Register notices matched to this citation. This is Register status evidence, not compiled regulation text: a notice does not by itself amend the text shown here.

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Exemptions and exemptions

State Register activity

Investment advisers defined under General Business Law, section 359-eee.

Brokers, dealers and salespersons defined under General Busi- ness Law section 359-e.