Mary Ellen represents a federal covered investment adviser in State A, with her main office there. Once a month, as she passes through State B on her way to work, she meets with 4 financial planning clients at a diner to discuss investing strategies. Therefore
A. Mary Ellen need not register in State B due to the number of clients there
B. Mary Ellen must register in State B
C. Mary Ellen need not register in State B as she has no place of business there
D. Mary Ellen may register with either State A or State B
EXPLANATION: Mary Ellen does have a place of business in State B, so the number of clients is irrelevant.