Definitions Under the USA Flashcards
Certificates of deposit, voting trust certificates, collateral trust certificates, or unit investment trusts refer to the issuer as the ____________ or ____________.
Manager or depositor
What is a no issuer?
does fractional interests or participations in oil, gas, or mining titles or leases or in the payments out of production under these titles or leases.
What is a Broker dealer?
firm engaged in the business of buying or selling securities for the accounts of others or for its own account
What is an agent?
An individual who represents a broker-dealer, or an issuer, attempting to effect or effecting securities transactions
What is consent to service of process
the State Administrator as the representative to be served legal papers on behalf of the registrant.
What is a qualified purchaser
a natural person (and their spouse) or a family-owned company with investments worth at least 5 million dollars,
a trust fund backed by qualified purchasers with investments worth at least 5 million dollars,
or an institution with investments of at least 25 million dollars.
What is considered Institutional buyers
are entities who make security transactions on a large scale for their own accounts or for institutional clients,
such as insurance or investment companies, trust companies, broker-dealers, investment advisers, banks, savings institutions, and employee pensions and profit-sharing plans.
What is an exclusion?
means that the person, entity, or thing doesn’t meet the definition so is therefore excluded from the group in question
What is an exemption?
means that they are part of the group, but for some reason they have been released from the obligations for the group in question.
What does it mean for something to be excluded or exempt?
they dont have to register
What is an exemption
means that they are part of the group, but for some reason they have been released from the obligations for the group in question
