Series 63-1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Administrator | show 🗑
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| show | used when any registered person has engaged or is about to engage in any act or practice constituting a violation of any provision of this act or any rule or order. May be with or without a prior hearing. ONLY APPLIES TO PERSONS
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| Stop Order | show 🗑
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| Summarily | show 🗑
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| Summary Order | show 🗑
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| show | May not be entered without appropriate prior notice to interested parties, opportunity for hearing, written findings of fact and conclusions of law.
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| show | Common term for state securities laws
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| show | any individual, corporation, partnership, association, joint stock company, or trust where the interests of the beneficiaries are evidenced by a security, an unicorporated org, a govt, or a political subdivision of a govt.
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| show | Minors, deceased people, individuals legally declared mentally incompetent
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| show | any person engaged in the business of effecting transactions in securities for the account on behalf of OTHERS. must register with the state and the SEC
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| Dealer | show 🗑
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| show | any individual, other than a B/D, who represents a B/D or issuer in affecting or attempting to affect purchases or sales of securities. Also referred to as Registered Representative.
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| Investment Advisor | show 🗑
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| Investment Advisor Representative | show 🗑
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| Issuer | show 🗑
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| Exempt Security | show 🗑
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| Exempt Transaction | show 🗑
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| Offer/Offer to sell | show 🗑
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| Sale | show 🗑
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| Fraud | show 🗑
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| show | any individual who, for compensation, acts as an agent of an investment advisor in referring potential clients. They must be registered as investment adviser representitives.
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| show | a person who has a net worth in excess of $1 million, or has income of $200,000 for last 2 years (or $300,000 if married) with expectation of reaching that level this year. they are not counted as investor purchasing private placement under Reg D.
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| show | those securities professionals, or securities issuers, who are in the process of or who have registered with the Administrator.
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| Institution | show 🗑
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| National Securities Markets Improvement Act (NSMIA) | show 🗑
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| Excluded from Definition of B/D | show 🗑
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| States exclude B/Ds from definition of B/D if: | show 🗑
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| Effectiveness of Registration | show 🗑
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| Registration Expiration | show 🗑
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| show | Clerical and administrative employees of a B/D are not included in definition of agent, and do not have to register.
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| show | when representing issuers in transactions of exempt securities, exempt from registration, and with existing employees, partners, or directors of the issuer with no commission for soliciting people
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| examples of exempt securities | show 🗑
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| examples of exempt transactions | show 🗑
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| Fee and Commission Sharing | show 🗑
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| show | an individual may not act at anyone time as an agent for more than one B/D or for more than one issuer, unless the B/D or issuer for whom the agent acts are affiliated by direct or indirect common control of Admin gives an exception
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| show | B/D from Canada can induce purchase of sale by a person from Candada who is temporarily resident in US and is existing client, or a person from Canada who is resident of US and transactions are in self directed tax advantage retirement plan in Canada
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| show | must file application in the form required by the jurisdiction where it has its principal office in Canada, file a consent to service of process, provide evidence that it is registered in good standing, be a member of an SRO or stock exchange in Canada
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| show | any individual who gives advice on investments not considered securities such as rare coins, art, and real estate. Also, someone who offers only NONspecific investment advice through publication of a general newsletter
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| Requirements to be an Investment Advisor | show 🗑
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| SEC Release IA-1092 | show 🗑
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| Financial Planners | show 🗑
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| show | someone who advise employee benefit plans on how to fund their plans with securities. Advise on the selection, performance, and retention of investment managers for employee benefit plans
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| Sports and Entertainment Representatives | show 🗑
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| Person In Business of Providing advice | show 🗑
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| show | includes advisory fees, commissions, and other types of fees related to the service rendered
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| show | IAR's, Banks/savings institutions/trusts, L.A.T.E. whose investment advisory services are incidental, B/D whose IA services are incidental and receive no extra compensation, publisher of newspaper/mag, owner/op/producer of TV or Radio station
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| Federal Covered Advisors | show 🗑
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| Registering | show 🗑
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| Exempt from registration for investment advisors | show 🗑
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| De Minimis Provision | show 🗑
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| show | location of office, location of books and records, form of business organization, method of business, other business activities, maintaining custody of customers assets, details relating ot control persons, disciplinary history
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| show | compensation arrangements, types of clients, type of investments, methods of analysis used, educational and business background of those who render advice.
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| Section 222 of IA Act of 1940 | show 🗑
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Created by:
Jseveska