17 CFR § 275.222-2 - Definition of “client” for purposes of the national de minimis standard.

---
identifier: "/us/cfr/t17/s275.222-2"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "17 CFR § 275.222-2 - Definition of “client” for purposes of the national de minimis standard."
title_number: 17
title_name: "Commodity and Securities Exchanges"
section_number: "275.222-2"
section_name: "Definition of “client” for purposes of the national de minimis standard."
chapter_name: "SECURITIES AND EXCHANGE COMMISSION"
part_number: "275"
part_name: "RULES AND REGULATIONS, INVESTMENT ADVISERS ACT OF 1940"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 80b-2(a)(11)(G), 80b-2(a)(11)(H), 80b-2(a)(17), 80b-3, 80b-4, 80b-4a, 80b-6(4), 80b-6a, 80b-11, 1681w(a)(1), 6801-6809, and 6825, unless otherwise noted."
cfr_part: "275"
---


# 275.222-2 Definition of “client” for purposes of the national de minimis standard.

For purposes of section 222(d)(2) of the Act (15 U.S.C. 80b-18a(d)(2)), an investment adviser may rely upon the definition of “client” provided by § 275.202(a)(30)-1, without giving regard to paragraph (b)(4) of that section.

[76 FR 43014, July 19, 2011]