About the Hedge Fund State Regulation Guide

Regulation of investment companies and hedge funds are not handled by state securities laws, however states may indirectly regulate the funds through regulating the sale of interests in hedge funds.

If a hedge fund chooses not to register with the SEC they may be exempt from state regulatory requirements.

In this guide we hope to outline the hedge fund regulations in each state and provide as much information and as many online resources as possible for each state.

Mississippi: Hedge Fund Regulations


Out Of State Regulations:
Miss. Code Ann. § 75-71-105(g): Investment adviser means "any person who for compensation engages in the business of advising others…but does not include…(8) a person who has no place of business in this state if…B) during the preceding twelve-month period he has had not more than five (5) clients…

In State Regulations:
No exemption, based on examiner's comments.

Comments on this regulation:
Exemption based on definition of investment adviser and definition of client, where one fund = one client. See Miss. Code Ann. § 75-71-105(g) for definition of investment adviser.

State Regulations Website:
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