30. Registration as an investment counsel shall not be required of:
(a) a member of a legally constituted professional body who occasionally gives financial advice in the ordinary practice of his profession;
(b) a publisher of a newspaper or business or financial journal, magazine or other periodical of general paid circulation, published in good faith and distributed, for a consideration, exclusively to subscribers or purchasers, who gives advice as an investment or financial counsel solely through such publications and who has no interest, direct or indirect, in any of the securities respecting which he gives advice and receives no commission or other consideration for his advice and gives the same only incidentally in the course of his business as a publisher;
(c) a bank, a loan society, a savings and credit union, a trust company or an insurance company;
(d) a person or company recognized by the regulations as not being an investment counsel within the meaning of this act.