6534640
Descrição
FlashCards por Tanya Prince, atualizado more than 1 year ago
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Criado por Tanya Prince
aproximadamente 8 anos atrás
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| Questão | Responda |
| Series 63 exam | The Uniform Securities Agent State Law Examination was developed by NASAA in cooperation with representatives of the securities industry and industry associations. The examination, called the Series 63 exam, is designed to qualify candidates as securities agents. |
| Uniform Securities Act & BLUE SKY LAW | The USA clarifies who has jurisdiction if a securities violation occurs, while also specifying the powers of each state's administrator. State regulations are designed to protect investors against securities fraud by requiring sellers of new issues to register their offerings and provide financial details. |
| Is the USA an actual law or legislation? | The USA is not actual legislation, but is "model" legislation. This means that it is merely a "template" that EACH state uses in drafting its own legislation.The main purpose of the USA is to REGULATE securities professionals and the sale of securities to protect the public against fraud. |
| Administrator | Administrator" means the [insert title of administrative agency or official]." Various states use different titles, so the USA was written to accommodate each state's preference in the title of this official. |
| Agent | "Agent" means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities." This, of course, is the individual to whom we usually refer as a registered representative. This person generally works for a broker-dealer, although he or she can be a person representing an issuer. |
| Bank | "Bank" means: A banking institution organized under the laws of the United States; A member bank of the Federal Reserve System; Any other banking institution, whether incorporated or not, doing business under the laws of a State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to be exercised by national banks under the authority of the Comptroller of the Currency." |
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