2 Flashcards
Under the provisions of Rule 144, what is the minimum holding period for the sale of control stock acquired through an open-market purchase?
No holding period required. Only subject to colume restrictions
An Amedment to Form SB-1 filed wiht the SEC is effective when?
Immediately
The use of marketing material in a regulation A offering must be accompanied by what?
an offering circular
Regulation FD covers what?
the selective disclosure of material nonpublic information by issuers
Under NMS Rule 606, how often must customers be notified in writing of their right to request order routing information?
Annually
trading has been halted on the floor of the NYSE for the remainder of the day due to triggering the circuit breaker rules. Your firm receives a custome order to buy 1,000 shares of XYZ at the close. Your firm should?
decline the order
Quotes placed by market participants in unlinked ECNs can be accessed through which system?
ADF - Alternative Display facility
Limit order entered as GTC orders on Nasdaq are protected until what time?
4:00 PM EST
Nasdaq trades are reported to the consolidated tape…true or false
False - the consolidated tape reports trades of listed equity securities. Nasdaq trades are reported to the Nadaq tape
Which two of the following debt transactions are NOT reported to TRACE?
- municipal bonds
- Rule 144A trades
- CDOs
- Money Market instruments
municipal bonds and money market instruments
On Tuesday, March 15, FINRA notifies a b/d that its registration to make a market in an existing Nasdaq security has been approved. The firm must enter a quotations in the security no later than when?
opening on Tuesday, March 22
According to Regulation M, a syndicate manager may reserve the right to reclaim a selling concession from a syndicate member when securities originally sold by the syndicate member are purchased in a stabilizing bid transaction. This is know as what?
a penalty bid
out of directed orders, nondirected orders, preferenced orders and unpreferenced orders, which may NOT be entered into Nasdaq
unpreferenced orders
The maximum public offering permissible under regulation A is what?
$5 million per issue and $1.5 million per affiliate
if an unaffiliated entity aquires a 5% or more interest in an issuer, form 13D must be filed within how many days?
10 days
how long is the seasoning period for Nasdaq
90 days
The OTC reporting facility (ORF) is used to report trades in what type of securities?
Restriced equity securities effected under Rule 144A
if an issuer wants to voluntarily delist form the NYSE, what is required?
Approval of the issuer’s board of diretors and the filing of the Form 25 with the SEC
Under FINRA rules, employees of member firms are prohibited from purchasing what type of new issues?
IPOs of equity securities
Rule 502 requires that issuers of unregistered securities file form D withthe SEC within how many days of the first sale?
15 days
All fines are payable to what entity?
US Treasury department
The SEC rule that addresses market maker activities during syndication of a new issue is?
Regulation M
A nasdaq market maker wishes to register as a market maker in another issue. The registration request is effective immediately provided what?
the request is made within 5 business days of the other issue’s inclusion in Nasdaq
A deficiency letter issued by the SEC indicates what?
a preliminary prospectus needs to be modified
FINRA rules require that the reporting of trades in non-Nasdaq securites be made …
Through ACT
