Other Flashcards
What is the $ threshold for record keeping under Bank Secrecy Act?
$3000
5 yr retention
What is the $ threshold for reports for Bank Secrecy Act?
Transactions $10,000+
Vertical restraint
Between employer & employee, mfg & customer
Not in direct competition
What is horizontal restraint?
Agreement between competitor
Illegal per se
What is a tying agreement?
Must buy product B to get product A. Product B is not in high demand
Monopoly power
Sufficient market power to control prices or exclude mkt comp
Mkt share of more than 70%
Sherman Act
Antitrust laws
Fair competition
No monopolies
Civil & CRIMINAL penalties
Clayton Act
Anticompetitive behavior not covered by Sherman
Stop activities in incipiency
Federal trade Commission Act
No false or misleading practices/ads
NO private party suits
Robinson-Patman Act
Amends & strengthens Section 2 of Clayton Act
No price discrimination of commodities of like grade & quality
Documents of title apply to:
Warehouse receipts
Bills of Lading
(Transported by carrier)
Article 7 of UCC
1933 Act - Rule 504
$1 mil limit
No specifics on investors
1933 Act - Rule 505
$5 mil limit
Unlimited accred investors
35 or less unaccredited investors
Annual report
1933 Act - Rule 506
No $ limits
Unlimited accred investors
35 or less unaccredited but sophisticated investors
1934 Act registration requirements
- Traded on national exchange
2. At least 500 shareholders in any class and more than $10 mil in assets
