Dates Flashcards
state IAs deliver initial brochure, or 5-day withdrawal without penalty
48 hours prior to contact
latest time to delivery IA brochure
entering advisory contract
time limit for execution of a day limit order. also, time and/or price discretion only good that day
same day
notification to Administrator that IA’s net worth is insufficient (send details the following business day)
next business day
maximum and minimum offering prices and underwriting discounts on file for coordination
2 business days
securities or funds received by non-custody IA must be returned to client
3 business days
3rd party checks received by non-custody IA must be forwarded to the 3rd party (USA only)
3 business days
filing form 8-K
4 business days
penalty-free cancellation of IA contract if brochure not delivered at least 48 hours in advance (USA only)
5 business days
time limit for open-end investment company (mutual fund) to redeem shares
7 days
SEC can summarily suspend trading in a security
10 days
Investment advisers may use oral discretion
10 business days after first trade
hearing must be granted - Summary order
15 days after written request
File Form D (private placement Rule 506)
15 days after first sale
receipt of options account agreement
15 days after account approval
