http://fundontology.com/fr/rule/Rules_Investment_Adviser_Act.ttl#Exempted_Ex_USC_s80b_3_b_1_Private_Fund_same_state
Class fr-rule-iaa:Exempted_Ex_USC_s80b_3_b_1_Private_Fund_same_state

owl:Class

A simplification that assumes the source system provides the legal assessment. The equivalent class definition can be expanded to actually compare the FIBO Primary Address of the adviser and all its clients.

Exempted ex. USC § 80b–3 (b) (1) - Private Fund same state

fr-rule-iaa:ExemptingCondition

jc-core:considered_by value fr-rule-iaa:FR_Exempted_USC_s80b_3_b_1_Private_Fund_same_state

fr-fin-ref:PrivateFundAdviser and (fibo-fnd-rel-rel:isClassifiedBy value fr-fin-ref:IAA_misc_same_state_client)

An defined class for FIBO Functional Business Entities that are exempted from Securities & Exchange Commission registration under U.S. Code § 80b–3 (b) (1) : “any investment adviser, other than an investment adviser who acts as an investment adviser to any private fund, all of whose clients are residents of the State...". The equivalent class simply consits of all FRO Private Fund Advisers that have the same state classifier. Inferred members are considered by the exemption rule, which applies the exemption status.