State Registration Of Securities Flashcards
True or false: any security exempt under federal regulation is also exempt under the USA
False
True or false: if state rules regarding an exemption are more restrictive than federal rules, then state rules would govern.
True
True or false: federal regulations always supersede state rules
False
True or false: any security exempt end of the USA act is also exempt under federal regulations
False
What are the exempt transactions for the state registration of securities?
Isolated non-issuer Unsolicited Bona fide gift Underwriter Financial institution Private placement Pre-org subscribe Fiduciary
According to the USA concerning private placements the offer may not be made to more than ________ persons in that state during the 12 month period.
10
Under the USA a private placement to a maximum of __________ retail investors within the state is an exempt transaction
10
True or false: a Reg D is an example of a federally exemption transaction
True
Under the USA are the issuers subject to state reporting requirements?
Yes
True or false: Under the USA the issuer must register the stock or distribute it under an exemption before the warrants can be issued.
True
What is rule 506?
rule 506 of regulation D is the private offering exemption
Under registration by coordination the issue of misfile the following with the state:
3x of the proposed Prospectus
A copy of the issuers articles of incorporation and bylaws
A copy of the agreement among underwriters
A copy of any indenture governing the issuance of the security
A specimen of the security to be issued.
Which securities can be registered by qualification in a state?
Any securities can be registered
What is the difference between an order and a trade?
It’s the difference between in waiter taking your order and delivering your meal.
