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

owl:Class

Registration Excluded

owl:Thing

http://judo.googlecode.com/svn/tunk/Judging_Contracts_Core.owl#Legal_Consequence

Legal Consequence status codes for Registration Excluded. That means the business entity must not register with the SEC as an Investment Adviser.

References
as owl:equivalentClass (fr-rule-iaa:Relevant_Ex_USC_s80b_2_a_11_Required_to_Register)