Class fr-rule-iaa:Exempted_Ex_USC_s80b_3_b_7_C_Small_Business_affiliate

A simplification for the Fund Regulation Prototype. We assume the adviser is already tagged in the FIBO load. This can be expanded to actually validate the affiliation and license aplication.
Exempted ex. USC § 80b–3 (b) (7) (C) - Small Business affiliate
jc-core:considered_by value fr-rule-iaa:FR_Exempted_USC_s80b_3_b_7_C_small_business_affiliate
and (fibo-fnd-rel-rel:isClassifiedBy value fr-fin-ref:IAA_misc_Small_Business_affiliate)
A defined class for FIBO Functional Business Entities that are exempted from Securities & Exchange Commission registration under U.S. Code § 80b–3 (b) (7) : “any investment adviser, other than any entity that has elected to be regulated or is regulated as a business development company pursuant to section 54 of the Investment Company Act of 1940 [15 U.S.C. 80a–53], who solely advises— ". (C) applicants that are affiliated with 1 or more licensed small business investment companies described in subparagraph (A) and that have applied for another license under the Small Business Investment Act of 1958, which application remains pending. The equivalent class simply consits of all FIBO Investment Advisers that are classified as Small Business affiliate Advisers. Inferred members are considered by the exclusion rule, which applies the exclusion status.

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