Shared Flashcard Set

Details

Series 63
Registration of Persons
15
Finance
Not Applicable
07/31/2005

Additional Finance Flashcards

 


 

Cards

Term
Broker
Definition
Effects trades for the accounts of others; acts in an agency capacity.
Term
Snowbird Rule
Definition
A person licensed in the state in which he maintains a place of business and effects securities solely with exisitng customers who are not residents of the state in which the transaction takes place.
Term
Dealer
Definition
Effects trades for its own account; acts in a principal capacity.
Term
4 Classes of Persons
Definition
Brokers/dealers. Agents. Investment Advisers. Investment Adviser Representatives.
Term
Natural Person
Definition
Any individual (human being) or person.
Term
Legal Person or Entity
Definition
Exists as a creature of law; must have a legal existence or identity.
Term
30 Days
Definition
Number of days a firm may continue doing business with a client who has moved to another state without registering.
Term
Securities Exchange Act of 1934
Definition
Sets a limit to the amount of surety or fidelity bonds.
Term
Agent
Definition
A natural person who represents a broker/dealer or an issuer (both legal entities) in transactions involving securities. Often referred to as a sales representative or registered representative.
Term
Exempt Securities
Definition
Securites that are exempt from registration.
Term
Exempt Transactions
Definition
Transactions exempt from registration.
Term
Exemptions (Agent)
Definition
If agent is involved in exempt securities and exempt transactions. And if the employee gets a compensation from the sale of securities.
Term
Investment Adviser
Definition
Any person who provides advice about securities; provides that advice as part of an ongoing business; and receives compensation for the investment advisory services.
Term
Advisers Act of 1940
Definition
The federal law defining an investment adviser. The USA patterned its definition of the investment adviser from this act.
Term
IA-1092
Definition
Published by the SEC in 1987, it further expanded the definition of an investment adviser to include many financial planners and sports/entertainment agents.
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