Term
|
Definition
| a financial institution, a private business development company, directors or officers of the issuer, or an individual with a net worth of $1,000,000 for the past two years |
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Term
|
Definition
| the increase of the cost basis on a bond |
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Term
|
Definition
| interest realized between interest payments |
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Term
|
Definition
| the deposited money in an annuity is expressed in these units |
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Term
|
Definition
| The Uniform Securities Act of 1933 |
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Term
|
Definition
| a property tax based on the assessed value of real estate |
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Term
|
Definition
| the State securities commission, its commissioner, or secretary |
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Term
|
Definition
| any notification material used in the media |
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Term
|
Definition
| when a firm effects trades for the account of others |
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Term
|
Definition
| any individual who represents a broker-dealer or issuer in effecting securities transactions |
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Term
|
Definition
| potentially volatile funds that invest in cutting-edge industries or start-up companies with unproven earnings |
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|
Term
| All-or-nothing underwriting |
|
Definition
| if a corporation cannot sell an entire issue, the sale is cancelled |
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|
Term
| American Depository Receipts (ADRs) |
|
Definition
| a foreign security on deposit at an overseas American bank branch |
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Term
|
Definition
| the person receiving the payments from an annuity |
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Term
|
Definition
| a contract that provides for payments over the life of the contract |
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Term
|
Definition
| the payout period of an annuity |
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Term
|
Definition
| the payments from an annuity are expressed in these units |
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|
Term
| Articles of incorporation |
|
Definition
| the charter granted by the state where the corporation exists |
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Term
|
Definition
| the lowest price a seller is willing to accept for a security |
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Term
|
Definition
| a security whereby the issuer can assess the owner for additional money |
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|
Term
| Assumed interest rate (AIR) |
|
Definition
| an assumption of a reasonable rate of return on a security |
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Term
|
Definition
| the number of shares to be issued according to the articles of incorporation |
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Term
|
Definition
| offering a quotation that is not qualified then failing to transact an order on that basis |
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Term
|
Definition
| checks payable at a specified future date drawn on and accepted by a bank |
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Term
|
Definition
| a bond in which the owner's name is not recorded on either the bond or in a book of the issuer |
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|
Term
| Best efforts underwriting |
|
Definition
| unsold issues of an underwriter offering may be returned unsold to the issuing corporation |
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Term
|
Definition
| the highest price that a buyer is willing to pay for a security |
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Term
|
Definition
| highly rated issues of large, mature companies |
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Term
|
Definition
| elected by shareholders who become the governing body of the corporation (or mutual fund) |
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Term
|
Definition
| a corporate or government debt security |
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|
Term
| Bond anticipation note (BAN) |
|
Definition
| used for temporary project financing that eventually will receive revenues from a bond issue |
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Term
|
Definition
| mutual fund that invest all of their assets in debt securities |
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Term
|
Definition
| the possessors of debt instruments |
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Term
|
Definition
| an exchange floor supervisor's ledger for trade entries |
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|
Term
|
Definition
| ownership of a bond evidenced by an accounting entry with no physical certificate |
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Term
|
Definition
| a person engaged in transacting securities business for the account of others |
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Term
|
Definition
| a person who effects securities transactions for their own account or the account of others |
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Term
|
Definition
| the issuer has the flexibility to retire debt prior to maturity |
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Term
|
Definition
| gives the buyer of the contract the right to purchase the underlying security at the strike price |
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Term
|
Definition
| the right to call or repurchase a stock |
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Term
|
Definition
| appreciation of the market value of a security |
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Term
|
Definition
| an investment sold for less than its cost basis |
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Term
|
Definition
| the sum of all issued securities of a corporation |
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Term
|
Definition
| the accumulated value of an insurance policy that will be returned to the policyowner upon surrender of the policy |
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|
Term
|
Definition
| to sell a security in a conclusive way for money |
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|
Term
|
Definition
| an order preventing the continuation of an action |
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Term
|
Definition
| short term instruments issued by commercial banks |
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Term
|
Definition
| received for signing a subscription agreement within a limited partnership |
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Term
|
Definition
| engaging in transactions solely to generate commissions |
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|
Term
|
Definition
| a liability created without willful intent by a violation of the Uniform Securities Act |
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Term
|
Definition
| non-criminal penalties usually resulting in a fine |
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|
Term
| Closed-end investment company |
|
Definition
| an investment company whose issues are not redeemable |
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Term
|
Definition
| concerned with settling disputes between dealers or brokers and the public |
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|
Term
|
Definition
| outlines procedural process in the event of securities violations |
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Term
|
Definition
| bond issued by a corporation that own subsidiaries or portions of other companies and use these stocks as collateral for a bond issue |
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|
Term
| Collateral trust certificate |
|
Definition
| marketable securities are used as collateral to back the certificate collateralized mortgage obligation (CMO) |
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|
Term
|
Definition
| promissory note issued by a corporation |
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|
Term
|
Definition
| executes securities orders for clients of his firm or the firm's own account |
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|
Term
|
Definition
| company stock that does not pay a specified dividend |
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|
Term
|
Definition
| a consideration to alleviate extra tax burdens on shareholders |
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|
Term
| Consent to service of process |
|
Definition
| a statement of eligibility for the filing of a security |
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|
Term
|
Definition
| a person appointed by the Administrator to maintain decedent or the decedent's assets |
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|
Term
| Contingent deferred sales charge (CDSC) |
|
Definition
| a fund offered at NAV that will include a sales charge if the fund is redeemed within a specified period of time |
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|
Term
|
Definition
| where sales are held by a trust for employees of a |
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|
Term
|
Definition
| stock acquired by an affiliated person such as officer or director |
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|
Term
|
Definition
| supervisory personnel of registered representatives or agents |
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|
Term
|
Definition
| the market value of a bond is equal to the market value of the common stock for which it is exchanged |
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|
Term
|
Definition
| the price that would be feasible for the preferred shareholder or bondholder to convert to common stock |
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|
Term
|
Definition
| allows a bondholder to convert the bonds for shares of common stock |
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|
Term
|
Definition
| the number of shares that will be received for each share of preferred stock or corporate bond |
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|
Term
|
Definition
| the 20 days after the filing date of a registration statement |
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|
Term
|
Definition
| a legal business entity whose existence is legally distinct from the people who own or control it |
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|
Term
|
Definition
| the original purchase price of a security, inclusive of sales charges |
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|
Term
|
Definition
| the interest rate paid on a bond |
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|
Term
|
Definition
| a liability created by the willful violation of an order or provision of the Uniform Securities Act |
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|
Term
|
Definition
| a provision that allows no dividend to be paid to common stockholders if preferred dividends are in arrears |
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|
Term
|
Definition
| number of shares times number of vacancies equals number of votes |
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|
Term
|
Definition
| annual interest paid on a bond divided by its current market value |
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|
Term
|
Definition
| a national bank or trust company that safeguards a mutual fund's physical assets. Also, the fiduciary of a minor's account (UGMA) |
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Term
|
Definition
| stock whose earnings tend to fluctuate within the business cycle of their industry |
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Term
|
Definition
| the date that accumulation units are converted to annuity units |
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Term
|
Definition
| an agent may effect securities transactions prior to registering with the State |
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|
Term
|
Definition
| any person who performs securities transactions for their own account as a part of regular business |
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Term
|
Definition
| the amount the beneficiary receives from the decedent owner of an annuity or life insurance policy |
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|
Term
|
Definition
| a bond issue that is not secured by a pledged asset |
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|
Term
|
Definition
| the date the board of directors authorizes a dividend |
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|
Term
|
Definition
| stocks in companies that have a resistance to recession |
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|
Term
|
Definition
| payments from the annuity are delayed for a specified period of time after the deposit |
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|
Term
|
Definition
| the sales charge is determined by the length of time the security is held |
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|
Term
|
Definition
| the employee is assured a specified annual benefit payment at retirement |
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|
Term
| Defined contribution plan |
|
Definition
| a retirement plan where the employer is required to fund a specified contribution on behalf of each employee |
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|
Term
|
Definition
| the persistent and appreciable decline in general price levels |
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|
Term
|
Definition
| a bond that is sold at less than par value |
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|
Term
|
Definition
| security that is purchased below the face value and redeemed at full value |
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|
Term
|
Definition
| the yield denotes the percentage discount from the face value of the issue |
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|
Term
|
Definition
| the initial notice of an act or violation |
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|
Term
|
Definition
| the controlling influence effecting securities transactions |
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|
Term
|
Definition
| the principal underwriter of a mutual fund |
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|
Term
|
Definition
| the spreading out of investment assets to reduce volatility |
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|
Term
|
Definition
| a portfolio that contains various investment vehicles and/or asset classes |
|
|
Term
|
Definition
| a payment of earnings of a corporation per share of stock |
|
|
Term
|
Definition
| systematic investments at fixed intervals, usually monthly or quarterly due diligence proper investigating and researching of a security prior to transaction |
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|
Term
|
Definition
| the date in which a registration statement becomes effective |
|
|
Term
| Equipment trust certificate |
|
Definition
| equipment owned by the issuing corporation is used as collateral to back a debt issue |
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|
Term
|
Definition
| represents 100 shares of a specific common stock |
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|
Term
|
Definition
| the Employee Retirement and Income Security Act of 1974 establishing IRS standards for qualified retirement plans |
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|
Term
|
Definition
| Employee Stock Ownership Plan, a profit sharing plan whereby the employer contributions are invested in the stock of the company |
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|
Term
|
Definition
| the date in which a stock trades without the right to receive a dividend |
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|
Term
|
Definition
| a security that is not required to be registered |
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|
Term
|
Definition
| trades that do not normally include the general public |
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|
Term
|
Definition
| certain securities that are exempt from registration requirements of the Act |
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|
Term
|
Definition
| establishes the maximum amount of administrative expenses for annuity or variable life contracts |
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|
Term
|
Definition
| total expenses of a mutual fund divided by the fund's total net assets |
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|
Term
|
Definition
| a guide to member firms in establishing fair pricing policies |
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Term
|
Definition
| debt certificates that offer pre-determined interest rates |
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|
Term
|
Definition
| the Federal National Mortgage Association |
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|
Term
|
Definition
| registration made effective by the SEC |
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|
Term
|
Definition
| the body that implements US monetary policy |
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|
Term
| Federally covered advisor |
|
Definition
| an advisor directly registered with the SEC |
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|
Term
| Federally registered adviser |
|
Definition
| advisers of assets in excess of $25,000,000 |
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|
Term
|
Definition
| the government's usage of taxation and expenditure programs to maintain a stable economy |
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|
Term
|
Definition
| fixed dollar payments that remain constant |
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|
Term
|
Definition
| executes orders for clients of his firm or for the firm's own account |
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|
Term
|
Definition
| specified amounts of foreign currency trading as an option to buy or sell at a specific price |
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|
Term
|
Definition
| pricing method used by mutual funds based on the next price to be computed |
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|
Term
|
Definition
| a stock split that increases the number of shares and reduces the prices per share proportionately |
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|
Term
|
Definition
| transactions between institutional investors that deal directly with each other without utilizing a broker-dealer |
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|
Term
|
Definition
| the deliberate misleading of a person to effect a transaction |
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|
Term
|
Definition
| the Federal Home Loan Mortgage Corporation |
|
|
Term
| Freeriding and withholding |
|
Definition
| a member firm withholds securities from hot issues for their own account when they have unfilled public orders |
|
|
Term
|
Definition
| sales charge of a variable contract whereby as much as 50% of the first year's premium may be charged against the account |
|
|
Term
|
Definition
| same as a registered bond with the addition of semi-annual interest payments sent from the issuer. No physical bond is issued |
|
|
Term
| General obligation bond (GO) |
|
Definition
| bond issued by a political subdivision that has the authority to levy and collect taxes |
|
|
Term
|
Definition
| the Government National Mortgage Association |
|
|
Term
|
Definition
| delivery of stocks in certain, acceptable units |
|
|
Term
|
Definition
| funds invested in blue chip companies with a solid earnings history; minimum dividend payments as |
|
|
Term
|
Definition
| stock in a company that is expanding faster than the general economy and industry standards |
|
|
Term
|
Definition
| a fund with a combination of both growth companies and companies that pay consistent dividends |
|
|
Term
|
Definition
| a security which has its payment of principle, interest, or dividend assured |
|
|
Term
|
Definition
| a stock that is in high demand and is over-subscribed |
|
|
Term
|
Definition
| the usage of a client's filly-paid securities by an NASD member firm as collateral for a loan |
|
|
Term
|
Definition
| payments from the annuity begin one payment period following a lump-sum deposit into the contract |
|
|
Term
|
Definition
| a fund that invests in companies that pay a high dividend in relation to their market value |
|
|
Term
|
Definition
| a stock that pays a high dividend in relation to its market price |
|
|
Term
|
Definition
| a contract for a corporate debt |
|
|
Term
|
Definition
| issued by municipalities but are supported by a tease agreement with a corporation |
|
|
Term
|
Definition
| demand for goods and services exceeds supply causing prices to rise |
|
|
Term
| Initial public offering ([P0) |
|
Definition
| a new issue that represents a corporation's first stock distribution to the public |
|
|
Term
|
Definition
| anyone owning 10% or more of the issuer's shares of a security; also includes anyone possessing information not available to the public |
|
|
Term
|
Definition
| unable to meet financial obligations when due |
|
|
Term
|
Definition
| a person purchasing life insurance on another individual has an insurable interest in that individual |
|
|
Term
|
Definition
| the person on whose life an insurance policy is written |
|
|
Term
|
Definition
| grants the buyer the right to buy or sell a particular debt security at a designated price |
|
|
Term
| Interest-bearing security |
|
Definition
| security that pays a specified periodic interest rate |
|
|
Term
|
Definition
| when the market price of a stock is greater than the subscription price |
|
|
Term
|
Definition
| a person who, for compensation, engages in the business of advising others in the purchase or sale of securities |
|
|
Term
| Investment adviser representative |
|
Definition
| employee of an investment adviser that may be a partner, officer, director, or other associated individual |
|
|
Term
| Investment advisory brochure |
|
Definition
| literature providing certain information that an investment adviser may submit to customers |
|
|
Term
|
Definition
| corporations or trusts in which investors are able to pool their resources for increased diversification and professional management |
|
|
Term
|
Definition
| that amount of shares that have actually been sold |
|
|
Term
|
Definition
| any person who issues or proposes to issue a security |
|
|
Term
| Joint and last survivor life annuity |
|
Definition
| payments from the annuity are made to two people; when one dies the payments continue to the joint annuitant |
|
|
Term
|
Definition
| a retirement plan available only to self-employed individuals |
|
|
Term
|
Definition
| allows an investor to qualify' for sales discounts without initially investing the entire required amount |
|
|
Term
|
Definition
| the document offering to buy back a security to mitigate a situation between an agent and a customer |
|
|
Term
|
Definition
| a level sales charge deducted from each installment into the contract |
|
|
Term
|
Definition
| any company that issues bonds and/or borrows money has leveraged their assets |
|
|
Term
| Life annuity with period certain |
|
Definition
| periodic payments will be made to the annuitant for a specified number of years |
|
|
Term
|
Definition
| the availability to turn an investment into cash |
|
|
Term
|
Definition
| a capital gain on an asset held longer than one year |
|
|
Term
|
Definition
| allows for self-regulation of the over-the-counter market |
|
|
Term
|
Definition
| the most prominent type of investment company; they may be diversified or non-diversified |
|
|
Term
|
Definition
| the required money in an account necessary to purchase a security on margin |
|
|
Term
|
Definition
| securities that are approved to be purchased on margin |
|
|
Term
|
Definition
| a dealer capable of making a continuous offering to buy and sell stocks |
|
|
Term
|
Definition
| the current price of a security |
|
|
Term
|
Definition
| a security that can be transferred to another party in a negotiated market |
|
|
Term
|
Definition
| security trades that essentially cancel each other |
|
|
Term
|
Definition
| an essential fact needed to make an informed investment decision |
|
|
Term
| Material inside information |
|
Definition
| any non-public fact that would have an effect on the value of a security in the marketplace |
|
|
Term
| Merchandising marketing scheme |
|
Definition
| multi-tiered marketing programs that primarily rely on recruitment of other sales personnel |
|
|
Term
|
Definition
| a corporation may specify in the underwriting that a minimum amount of securities need be sold or the sale is cancelled |
|
|
Term
| Minimum required distribution |
|
Definition
| mandatory distributions from an IRA at 70½' |
|
|
Term
|
Definition
| statements that infer something that is not truthful |
|
|
Term
|
Definition
| an attempt to control the supply of money and credit in the economy |
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|
Term
|
Definition
| a fund that invests in short4erm debt instruments |
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|
Term
|
Definition
| debt instruments that trade in the money market |
|
|
Term
|
Definition
| an annuity guarantees payments for the life of the annuitant |
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|
Term
|
Definition
| are collateralized by a lien or mortgage against real property |
|
|
Term
| Multi-level distributorship program |
|
Definition
| multi-tiered marketing program where residual sales are garnered by sponsors of the salesperson |
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|
Term
|
Definition
| an agent is affiliated with more than one broker-dealer |
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|
Term
|
Definition
|
|
Term
|
Definition
| bonds issues by political subdivisions |
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|
Term
|
Definition
| an open-end investment company that continually issues redeemable shares |
|
|
Term
|
Definition
| the National Association of Securities Dealers |
|
|
Term
|
Definition
| National Association of Securities Dealers Automated Quotation System |
|
|
Term
| NASDAQ National Market System |
|
Definition
| combines features of the NASDAQ system with reports of transactions, displaying data on the last trade and volume |
|
|
Term
|
Definition
| a stock exchange accessible to the entire country |
|
|
Term
| National Securities Market Act of 1996 |
|
Definition
| passed to minimize the dual registration of investment advisers both federal and state levels |
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|
Term
|
Definition
| the current market, or bid price, of a mutual fund |
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|
Term
|
Definition
| the investment income from securities held in a mutual fund portfolio |
|
|
Term
|
Definition
| the value of an individual measured by their total assets less total liabilities |
|
|
Term
|
Definition
| the yield on a bond after taxes |
|
|
Term
| New York Stock Exchange (NYSE) |
|
Definition
| the oldest and largest exchange market in the US |
|
|
Term
|
Definition
| a fund with no sales charge and offered at NAV |
|
|
Term
|
Definition
| the coupon rate of a bond |
|
|
Term
|
Definition
| investor that must have a purchaser representative to conduct a transaction |
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|
Term
|
Definition
| security that is required to be registered |
|
|
Term
|
Definition
| insures that if an annuity payment is missed during the accumulation period that the previous investments will not be forfeited |
|
|
Term
| Non-Interest bearing security |
|
Definition
| securities that do not pay periodic interest payments |
|
|
Term
|
Definition
| a security sale that does not directly benefit the issuer |
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|
Term
|
Definition
| government issues that cannot be negotiated in the marketplace |
|
|
Term
|
Definition
| a method for registering a security, also known as registration by filing |
|
|
Term
|
Definition
| any attempt or offer to dispose of or solicitation to buy a security, or interest in a security, for value offering memorandum |
|
|
Term
|
Definition
| the lowest price that a seller is willing to accept for a security |
|
|
Term
| Office of supervisory jurisdiction (OSJ) |
|
Definition
| any office designated by a member firm as directly responsible for the supervision of all persons in that office |
|
|
Term
| Open-end investment company |
|
Definition
| an investment company that issues redeemable shares |
|
|
Term
|
Definition
| the price of an option contract paid buy the buyer to the writer |
|
|
Term
|
Definition
| contractually obligated to fulfill the option through the expiration date |
|
|
Term
|
Definition
| a legally binding contract to buy or sell an underlying security at a designated price in the future |
|
|
Term
|
Definition
| a negotiated market where one buyer negotiated with one seller |
|
|
Term
|
Definition
| the number of issued shares minus treasury stock |
|
|
Term
|
Definition
| proportionate to the number of shares owned compared to the number of outstanding shares |
|
|
Term
|
Definition
| participating in securities transactions only to give the appearance of securities activity |
|
|
Term
|
Definition
| a bond's face amount, normally $1,000 |
|
|
Term
| Participating preferred stock |
|
Definition
| these stocks receive a specified dividend plus additional dividends when common stock dividends exceed a certain level |
|
|
Term
|
Definition
| the date on which the declared dividend will be paid to shareholders |
|
|
Term
|
Definition
| life insurance that pays a death benefit and accumulates a cash value |
|
|
Term
|
Definition
| under the Act this may be an individual, group, or organization |
|
|
Term
|
Definition
| a daily publication for over-the-counter issues that do not trade on the NASDAQ |
|
|
Term
|
Definition
| a consideration designed to alleviate extra tax burdens on shareholders |
|
|
Term
|
Definition
| groups of persons formed to conduct transactions |
|
|
Term
|
Definition
| the shareholder right to purchase a proportionate amount of newly issued stock in a company |
|
|
Term
|
Definition
| stock that has a preference over common stock with respect to dividends |
|
|
Term
|
Definition
| distribution of assets from an account prior to a previously established schedule |
|
|
Term
|
Definition
| a bond selling above its par value |
|
|
Term
|
Definition
| prohibited practices involving fraudulent transactions |
|
|
Term
|
Definition
| securities offered by a corporation that is already publicly traded |
|
|
Term
|
Definition
| a sale that takes place in the new issue market |
|
|
Term
|
Definition
| a person actively engaged in the management of the member firm's business |
|
|
Term
|
Definition
| a firm effecting securities transactions for their own account |
|
|
Term
|
Definition
| Regulation DS defines as no more than 35 non-accredited investors, with unlimited number of institutional investors |
|
|
Term
|
Definition
| a document containing a security's information regarding objective, capitalization, sales charges, operating expenses, etc |
|
|
Term
|
Definition
| a limited power of attorney that allows voting by someone not in attendance |
|
|
Term
|
Definition
| designated for each offering to buy securities for non-accredited investors |
|
|
Term
|
Definition
| a contract giving the buyer the right to sell the underlying security at the strike price |
|
|
Term
|
Definition
|
|
Term
| Qualified retirement plan |
|
Definition
| a retirement plan eligible to receive favorable tax treatment |
|
|
Term
|
Definition
| purchasing a security in a private placement then immediately selling it for profit |
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Term
| Real estate investment trust certificate (REIT) |
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Definition
| certificates where real property and mortgages are the underlying investment |
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Term
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Definition
| a slowing of economic activity |
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Term
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Definition
| the date a shareholder must officially own shares to be entitled to a dividend |
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Term
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Definition
| a prospectus with a red border on the cover page denoting a registration statement has been filed but not yet effective |
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Term
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Definition
| the issuance of a bond for the express purpose of eliminating another bond issue |
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Term
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Definition
| a security that has filed a registration statement with the state and has become effective |
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Term
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Definition
| has the name of the owner on the bond and recorded on the issuer's books |
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Term
| Registered competitive trader |
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Definition
| executes trades for their own account |
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Term
| Registered representative |
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Definition
| a sales representative that is registered with the State |
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Term
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Definition
| normally banks or trust companies that have responsibility to prevent a company from issuing more shares than are authorized |
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Term
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Definition
| the documentation presented to the Administrator that requests the registration of an agent, broker-dealer, or investment adviser |
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Term
| Registration by coordination |
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Definition
| filing of the SEC information with the state satisfies the state's filing requirements |
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Term
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Definition
| the least costly registration method uses a prospectus on file with the SEC |
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Term
| Registration by qualification |
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Definition
| may be used in any state; many details and disclosures required |
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Term
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Definition
| this includes the amount of securities being offered, notifications of other states receiving registration statements, and any adverse filings |
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Term
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Definition
| settlement in three business days after the trade date |
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Term
| Regulated investment company |
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Definition
| to qualify, an investment company must distribute at least 90% of its net investment income to shareholders |
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Term
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Definition
| available for a new issue of less than $5,000,000 during a 12-month period |
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Term
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Definition
| registration exemptions for private placements |
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Term
| Repurchase agreements (REPOS) |
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Definition
| a dealer borrows money from a second dealer and uses securities as collateral |
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Term
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Definition
| the offer to buy back a security from a customer by an agent to mitigate an illegal securities transaction |
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Term
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Definition
| stock that has no right of transferability, usually acquired through a private placement |
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Term
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Definition
| a bond obligation that has been met in fill |
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Term
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Definition
| the non-taxable or cost basis portion of a mutual fund sale |
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Term
| Revenue anticipation note (RAN) |
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Definition
| used to finance current obligations with revenues provided by federal or state subsidies |
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Term
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Definition
| a bond issued to finance a distinct project |
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Term
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Definition
| a stock split that reduces the number of shares and raises the price per share proportionately |
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Term
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Definition
| stockholders ability to view corporate books and records |
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Term
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Definition
| the right of a customer to sell back to the agent a security that was illegally transaction |
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Term
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Definition
| the right to dispose of shares through gift or resale |
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Term
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Definition
| allows investors the right to receive cumulative quantity discounts when purchasing mutual fund shares |
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Term
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Definition
| the possibility of an investment losing or not gaining in value |
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Term
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Definition
| a combination of factors regarding objectives and liquidity of an investment |
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Term
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Definition
| an IRA funded with after-tax dollars |
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Term
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Definition
| exempts persons from the definition of an underwriter and allows the sale of securities if certain criteria are met |
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Term
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Definition
| provides for the sale of restricted stock between qualified institutions |
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Term
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Definition
| interstate offering exemption for securities sold within the border of one state |
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Term
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Definition
| relates to a member firm's dealings with the public sale a contract to dispose of or sell a security, or interest in a security, for value |
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Term
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Definition
| dollar levels at which the sales charge is discounted or reduced |
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Term
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Definition
| the portion of the purchase price used to pay commissions or fees |
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Term
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Definition
| stocks in companies that have earnings that tend to fluctuate with the yearly seasons |
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Term
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Definition
| the Securities and Exchange Commission |
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Term
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Definition
| a statement required on the front page of a prospectus that the SEC does not pass on the merits of the security |
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Term
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Definition
| consists of both the exchange markets and the over-the-counter markets |
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Term
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Definition
| established to provide purchasers of new issues of securities with information regarding the issuer |
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Term
| Securities and Exchange Commission |
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Definition
| responsible for the enforcement of securities laws |
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Term
| Securities Investor Protection Corporation (SIPC) |
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Definition
| a protection authority established to protect investors from loss due to a failed broker-dealer |
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Term
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Definition
| an investment in an enterprise for profit, with another company performing the management |
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Term
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Definition
| the bonds and preferred stock of a corporation |
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Term
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Definition
| an account established and maintained by an insurance company for their variable contracts under which income, gains, and losses are charged against the account |
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Term
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Definition
| the date in which purchased securities must be paid for or securities sold must be delivered |
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Term
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Definition
| the choices a beneficiary has upon the death of the insured |
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Term
| Shares of beneficial interest |
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Definition
| represents an undivided interest in a unit of designated securities in a Unit Investment Trust |
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Term
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Definition
| an insider selling stock in his corporation within 6 months of acquisition |
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Term
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Definition
| a capital gain for a security held less than one year |
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Term
| Simplified employee pension plan (SEP) |
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Definition
| allows self-employed individuals to contribute to their retirement in amounts greater than traditional IRA's |
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Term
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Definition
| a particular fund used to retire bonds at or prior to maturity |
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Term
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Definition
| an individual with the responsibility of maintaining a fair and orderly market, who may also act as an agent for a floor broker |
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Term
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Definition
| a mutual fund that concentrates a major portion of its assets on a specific industry or geographic region |
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Term
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Definition
| a mutual fund's principal underwriter |
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Term
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Definition
| a sales charge plan whereby no more than 20% of any payment may be applied to the sales fees |
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Term
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Definition
| a legal market manipulation to prevent an immediate price drop of a security during the distribution period |
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Term
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Definition
| an investment banker prepared to purchase any issues that are not subscribed to by current shareholders |
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Term
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Definition
| within the Act, defined as any state, territory, or possession of the US, District of Columbia, or Puerto Rico |
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Term
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Definition
| that act of registering a security with an individual state |
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Term
| Statement of additional interest |
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Definition
| attached to and becomes part of a prospectus when information within the prospectus is changed |
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Term
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Definition
| a period of time for which liability for actions is in effect |
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Term
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Definition
| one vote per vacancy per share owned |
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Term
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Definition
| a document establishing physical evidence of security ownership |
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Term
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Definition
| used to measure a specific group of stocks for options purposes |
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Term
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Definition
| existing shares are changed in number and the price per share adjusted proportionately, there is no net dollar change |
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Term
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Definition
| a device that may be used by an Administrator to halt the effectiveness of a registration |
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Term
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Definition
| the annuitant receives payments as long as he/she lives, then payments end |
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Term
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Definition
| have junior claims to that of ordinary debentures |
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Term
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Definition
| an order which requires a person to testify' |
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Term
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Definition
| constitutes a certificate of interest within a limited partnership |
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Term
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Definition
| the offering price of a stock to shareholders exercising preemptive rights |
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Term
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Definition
| the investment objective, risk tolerance, and investment experience of a securities customer |
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Term
| Summary complaint procedure |
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Definition
| available to respondents who do not dispute charges and waive their right to a hearing |
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Term
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Definition
| an order to deny or revoke an exemption granted to a security |
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Term
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Definition
| a bond issued to assure coverage for the costs of legal fees |
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Term
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Definition
| the current value of assets held in a variable contract less the surrender charges, if applicable |
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Term
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Definition
| changing from one fund family to another where another sales charge may be incurred |
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Term
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Definition
| a section in the Investment Company Act of 1940 that allows sales literature expenses to be carried by the mutual fund |
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Term
| Tax anticipated note (TAN) |
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Definition
| used to finance current obligations in anticipation of future property tax revenues |
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Term
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Definition
| calculated by dividing the municipal yield by the compliment of the investor's tax bracket |
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Term
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Definition
| the coupon rate on a corporate bond multiplied by the investor's tax bracket |
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Term
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Definition
| qualified plans available to employees of certain non-profit organizations under the IRS code |
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Term
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Definition
| insurance for a specified period of time and provides only a death benefit |
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Term
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Definition
| stocks that are listed on the exchanges that also trade on the OTC market |
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Term
| Third party administrator |
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Definition
| discretion for a securities transaction is directed by neither the client nor the agent |
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Term
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Definition
| syndicate's advertisement of a new issue in financial periodicals |
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Term
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Definition
| the recorded date of a securities transaction |
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Term
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Definition
| where trading with another country has more buying from the other country than selling to that country |
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Term
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Definition
| an individual retirement account that is funded with tax-deferred contributions |
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Term
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Definition
| varying length maturities of a security |
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Term
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Definition
| record keeper on all registered owners of a security |
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Term
|
Definition
| government issued debt with maturities of one year or less |
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Term
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Definition
| government issued debt with maturities greater than ten years |
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Term
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Definition
| government issued debt with maturities of one to ten years |
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Term
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Definition
| stock that has been reacquired by the corporation |
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Term
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Definition
| zero-coupon bonds issued by the US government |
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Term
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Definition
| bonds that are exempt from federal, state and local taxation |
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Term
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Definition
| executes orders for floor brokers when they are too busy to execute all of their own firm's orders |
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Term
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Definition
| an investment banker who sponsors the sale of an issue |
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Term
|
Definition
| instrument through which the underwriter agrees to sell an issue to the public, outlining conditions and commission schedule |
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Term
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Definition
| the difference between what the issuer receives and the public pays for a new issue |
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Term
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Definition
| a group of investment bankers |
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Term
| Uniform Gift to Minor's Act (UGMA) |
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Definition
| establishes procedures for securities to be purchased for a minor |
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Term
|
Definition
| relates to dealings between NASD member firms |
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Term
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Definition
| investment contracts which include front-end and spread-load contractual plans |
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Term
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Definition
| periodic payments are made during the annuitant's lifetime, and any unused portion may be paid in a lump sum to the beneficiary |
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Term
|
Definition
| values are based on the performance of the annuity's investment portfolio in the separate accounts |
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Term
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Definition
| stipulates how much money an employee is allowed to keep upon withdrawal from a qualified retirement plan, based on an approved schedule |
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Term
|
Definition
| the amount or degree of a securities fluctuation |
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Term
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Definition
| special corporate issues utilized in proxy positions to attempt to remove existing management |
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Term
|
Definition
| the right to purchase securities at a specified price referred to as the subscription price |
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Term
|
Definition
| an investor repurchases substantially the same security within 30 days of previously selling it |
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Term
|
Definition
| security trades that essentially cancel each other out |
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Term
|
Definition
| a market quotation provided for information purposes only and not considered firm |
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Term
|
Definition
| the seller in a call option contract |
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Term
|
Definition
| the overall return an investor will receive from a bond |
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Term
|
Definition
| bonds purchased at a deep discount from face value and redeemed at par at their maturity date; they pay no periodic interest |
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