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Effects trades for the accounts of others; acts in an agency capacity.
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Term
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A person licensed in the state in which he maintains a place of business and effects securities solely with exisitng customers who are not residents of the state in which the transaction takes place.
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Effects trades for its own account; acts in a principal capacity.
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Brokers/dealers. Agents. Investment Advisers. Investment Adviser Representatives.
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Any individual (human being) or person.
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Definition
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Exists as a creature of law; must have a legal existence or identity.
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Number of days a firm may continue doing business with a client who has moved to another state without registering.
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Term
| Securities Exchange Act of 1934 |
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Definition
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Sets a limit to the amount of surety or fidelity bonds.
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A natural person who represents a broker/dealer or an issuer (both legal entities) in transactions involving securities. Often referred to as a sales representative or registered representative.
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Securites that are exempt from registration.
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Definition
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Transactions exempt from registration.
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If agent is involved in exempt securities and exempt transactions. And if the employee gets a compensation from the sale of securities.
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Any person who provides advice about securities; provides that advice as part of an ongoing business; and receives compensation for the investment advisory services.
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Term
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Definition
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The federal law defining an investment adviser. The USA patterned its definition of the investment adviser from this act.
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Term
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Definition
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Published by the SEC in 1987, it further expanded the definition of an investment adviser to include many financial planners and sports/entertainment agents.
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