Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, an investment adviser must register with the SEC if it A) has $35 million in client assets invested in cash or money market funds and $75 million of client assets invested in long-term bonds under management B) limited its clients to insurance companies only C) its only place of business is outside of the United States, deals with fewer than 15 U. S.-based clients, and has less than $25 million in AUM in the United States D) would be required to register in 15 or more states