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CRPC Chapter 9 EXAM | Questions And Answers Latest {} A+ Graded | 100% Verified $13.48   Add to cart

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CRPC Chapter 9 EXAM | Questions And Answers Latest {} A+ Graded | 100% Verified

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CRPC Chapter 9 EXAM | Questions And Answers Latest {} A+ Graded | 100% Verified

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  • August 22, 2024
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CRPC Chapter 9 EXAM | Questions And Answers Latest {2024- 2025} A+ Graded | 100%
Verified


Trust in the system in Financial Services - Subprime mortgage crisis - systematic breakdown in
accountability and ethics -Financial crisis inquiry commission



Edelman Trust Barometer - Various industries level of trust in industries

FI bottom of rankings

Stock market done well

Trust in financial industry remains low despite the recovery since 2008-2009 Great Recession.



Pershing study and comments from the CFA institute - Clients concerned about fiduciary standard than
FAs are

Highlight trust issues and concerns



CFA Institute a crisis of culture annual report warning after 2008 meltdown - Breakdown in financial
industry will have consequences

Occupy Wall Street

Focus on fees and fiduciary standards



Wave 1 - results of crash and Great Depression Securities Act of 1933 - The first major federal law
regulating the securities industry. It requires firms issuing new stock in a public offering to file a
registration statement with the SEC.

Cover initial public offerings

If SEC finds misleading or inaccurate info it will delay the offering until registration statement is
corrected.

All new issues must be accompanied by a prospectus.



Securities exchange act of 1934 - Established the securities and exchange commission and aimed to
regulate securities transactions on both organizedabd OTC MARKETS

Broker dealers to register with SEC

File quarterly financial statements with SEC

, Investment advisors act of 1940 - Requires the registration of investment advisors who charge fees for
investment advice

ADV2B form

Prohibitions re: advertising practices

Inv advisors with $100 million AUM register with the SEC



Investment company act of 1940 - provides a definition of "investment company"

Dealing with mutual funds to detailed regulations

Diversified or non diversified management companies

Custodian to safeguard securities

Proceeds of redeemed shares be sent to shareholders within 7 days of redemption



Wave 2

Securities investor protection act of 1970 - Protection of brokerage accounts

Oversee the liquidation of brokerage firms and insure investor accounts to $500k, $250k can be cash
balances in case of bankruptcy of a brokerage firm



It does not cover market losses due to Inv fraud

Not the same as FDIC

Cost of ins pd by members



ERISA (Employee Retirement Income Security Act) of 1974 - Enacted to stem Company sponsored
retirement plans abuses

Fiduciary standard in workplace

5 criteria must be met:

Participation

Vesting

Funding

Reporting

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