Exam (elaborations)
FINRA - Series 63 Uniform Securities Agent Law Exam [Registration of Securities] A+GRADED 2024
- Course
- Institution
FINRA - Series 63 Uniform Securities Agent Law Exam [Registration of Securities] A+GRADED 2024
[Show more]
Seller
Follow
Content preview
FINRA - Series 63 UniformSecurities Agent Law Exam
[Registration of Securities]
A+GRADED 2024
For a new issue of securities to be offered to the public - //the
securities must generally be registered with the states in which
they will be sold, unless they are exempt from registration or
qualify as a Federal Covered Security.
An exemption from registration in a state means that - //the issuer
does not have to file a registration statement or advertising
material in the state.
An exemption from state registration can be - //for the securities
themselves or for the transaction.
[US. Government Securities] or [Underwriter transactions]
A Federal Covered Security is one - //that is registered with the
SEC only not with the states.
In practice most new issues qualify as - //Federal Covered
Securities.
Registration Requirements for Securities - //It is unlawful for any
person to offer for sale any security *in a state* unless
the security is registered under the act
, or
the security is exempt from registration
or
the security is a Federal Covered Security
*Note* No registration with FINRA or other Self-Regulatory
Organizations such as NASAA or the MSRB is listed as a
requirement under the Uniform Securities Act. True or False -
//True
Satisfying State Registration for a Security - //Registration with a
state means that the securities can be *"lawfully sold"* in that
state after the registration becomes effective.
Registration requirements at the state level may be satisfied by
*one* of the following methods: - //[1] Filing [notice filing] this is a
form of registration used by Federal Covered Securities or by an
established company which has registered with the SEC.
[2] Coordination this is a form of filing used for new issues whose
registration is pending with the SEC. Any security for which a
registration statement has been filed with the SEC may be
registered by coordination.
[3] Qualification this is a form of registration use when the new
issue of securities is not going to be filed with the SEC but in the
state of issuance *only*. Any security may be issued by
qualification.
Filing [Notice Filing] - The following conditions must be satisfied:
- //[a] must be actually engaged in the business operations of the
U.S. for a period of at least 36 consecutive months.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller williecaroline11. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.89. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now