DEFINITION OF AGENT. -agent is an INDIVIDUAL who represents a BD or issuer in effecting securities transactions. -also known as sales representatives and must register in each state in which they wish to perform trades.
Which of the following individuals is excluded from the definition of an agent under the Uniform Securities Act?
Excluded from the definition of an agent are individuals who represent issuers not broker-dealers in the sale of specified exempt securities, but not all exempt securities, exempt transactions or the sale of securities basically private placement issues and sales two persons with investment assets of at least $5 …
Who does the Uniform Securities Act apply to?
The Uniform Securities Act is a model law created as a starting point for state-level securities regulation. The purpose of the Uniform Securities Act is to deal with securities fraud at the state level and to assist the Securities and Exchange Commission (SEC) in enforcement and regulation.
Which of the following individuals is excluded from the definition of an agent under the Uniform Securities Act I an individual who represents an issuer in the sale of 1 year Commercial Paper II an individual who represents an issuer in the sale of Canadian government debt III an individual who represents an issuer in a transaction with an underwriter IV?
The Act exempts those individuals representing issuers who do not deal with the public from licensing as an agent. Individuals representing issuers who deal solely with underwriters or financial institutions are not defined as agents.
Which of the following are regulated under the Securities Exchange Act of 1934?
Under the Securities Exchange Act of 1934, the SEC is concerned with the regulation of exchanges, registration of broker/dealers, inequitable and unfair trade practices, and regulation of OTC markets.
Which order is not required to be retained as a record by a broker-dealer?
Which order is NOT required to be retained as a record by a broker-dealer? Subscription order pursuant to a rights offerings .
What is the purpose of the Uniform Securities Act?
Legislation. The Uniform Securities Act (USA) provides basic investor protection from securities fraud, complementing the federal Securities and Exchange Act. The act only applies to securities not regulated by the Securities and Exchange Commission.
What is not a security under Uniform Securities Act?
Commodities such as gold, silver, wheat, and pork bellies are not securities. Options to purchase or sell commodity futures, options on stocks, and stocks are securities. Under the Uniform Securities Act, an issuer is any person who issues or proposes to issue a security for sale to the public.
What does the term securities mean?
Securities are fungible and tradable financial instruments used to raise capital in public and private markets. There are primarily three types of securities: equity—which provides ownership rights to holders; debt—essentially loans repaid with periodic payments; and hybrids—which combine aspects of debt and equity.
Which transaction is included in the definition of an offer to sell?
Which transaction is included in the definition of “sale” under the Uniform Securities Act? define offer to sale: the unexecuted contract to sell a security for value – that is, the attempt to sell a security. Also included in the definition is a solicitation of an offer to buy the security.
Which of the following would be defined as an issuer transaction?
The resale of limited partnership interests originally offered in a private placement. An initial public offering of common stock by a corporation. An issuer transaction is: a transaction where the proceeds go to the issuer.
Which of the following is a non exempt security under uniform state law?
Which of the following is NOT defined as a security under the Uniform Securities Act? … Corporate bonds are not exempt under the Uniform Securities Act and thus must be registered in the State. U.S. Government bonds; U.S. Government agency bonds; and municipal bonds; are exempt securities.