Series 66: De Minimis Rule

a Latin term that refers to "little things" or "trifles." In the case of the Uniform Securities Act, it refers to the rule that investment advisers and investment adviser representatives are exempt from registration in a state if they've had no more than five non-institutional customers within that state over the last 12 months. There is also a separate de minimis rule that applies to capital gains taxes on bonds sold at a small discount.