Amendment H-1305 to HF 648
Providing for the expungement of information regarding investment advisers and investment adviser representatives authorized to do business in this state
Adopted · May 1, 2023
Filed April 25, 2023 in the House by
What it changes
AI summary This amendment adds a rule that the investment adviser must have been doing business in Iowa or the representative must have been an Iowa resident when the information was first recorded or when the petition was filed. It also changes the bill to specify that the information being removed must come from a dispute between a client and the adviser or representative.1
Read the amendment’s wording
- Page 1, by striking lines 17 through 22 and inserting: ““b. The investment adviser filing the petition to expunge the information was doing business in this state, or the investment adviser representative filing the petition to expunge the information was a resident of this state as provided in section 422.4, when either of the following occurred: (1) The information was first included in the record. (2) The petition was filed in district court.””
- Page 1, by striking lines 24 through 26 and inserting: ““c. The information arises out of a dispute involving the client of an investment adviser and the investment adviser or investment adviser representative.””