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| Laws to prevent fraudulent activities in securities transactions. |
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| The individual responsible for administering and enforcing the securities laws in that state. |
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| The process in which information that is filed with the SEC is also filed or shared with the Administrator. |
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| Any person/entity who issues or proposes to issue stock. |
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| Does not necessarily refer to an individual, but any legal entity. Could included corporations, partnerships, sole proprietorships, issuers, state Administrators, broker-dealers, and investment advisers. |
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| Any person in the business of effecting transactions in securities for its own or the accounts of others. |
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| Any individual who represents a broker-dealer or an issuer in effecting transactions in securities. Anyone who represents a broker-dealer in effecting transactions is securities. |
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| Any person who, for compensations, engages in the business of advising others to the value of securities or advisability of purchasing or selling securities. |
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| Investment Adviser Representative |
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Definition
Is any partner, officer, director, or other individual associated with an investment adviser who:
-makes recommendations/advises
-manages accounts or portfolios
-determines recommendations/advice
-solicits, offers, or negotiates the sale of investment advisory services
-supervises employees who perform these functions |
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| Is anyone who receives a fee or a percentage of the business for referring clients to an investment adviser but is not directly supervised by the adviser. |
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Definition
-Stock, treasury stock, right, warrant, transferable shar, cert. of deposit
-Interest in any profit-sharing agreement
-Note, bond, debenture, collateral trust cert.
-Variable Annuity or var. life insur.
-Voting trust cert., cert. of interest
-Investment contract
-Stock option or option on a commodity futures contract |
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Definition
-Fixed Annuity
-Fixed life insurance, universal life, or endowment policy
-Commodity or futures contract
-IRA or Keogh Plan |
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| A distribution or transaction that is done directly or indirectly for the benefit of the issuer. |
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| A distribution or transaction that does not directly or indirectly for the benefit of the issuer. The issuer does not receive the proceeds of the transaction. |
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| The Uniform Securities Act (USA) |
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Definition
| A model law, that is not the actual law of any state, but acts as a template. |
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| NASAA (North American Securities Administrators Association) |
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Definition
| An organization that is responsible for the content of the Series 63 Regulatory Examination. |
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| NSMIA (The National Securities Markets Improvement Act) |
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Definition
| Was passed to reduce duplication of state and federal securities regulation. |
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The Uniform Securities Act is not the actual law of any one state.
True or False? |
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Definition
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| Under the Uniform Securities Act, the person who administers and enforces a state's securities law is called: |
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| The Investment Advisers Act of 1940 |
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| A federal securities law that governs investment advisers registered with the SEC. |
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| Four elements of an Investment Contract: |
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Definition
1. An investment of money
2. A common enterprise
3. An expectation of profits
4. Results solely from the efforts of others |
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| 3 characteristics of an Investment Adviser: |
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Definition
1. Providing advice about securities.
2. Providing these services as a business.
3. Receiving compensation for these services. |
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