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REVIEW Series 63 EXAM 2024 /100% PASSED
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REVIEW Series 63 EXAM 2024 /100% PASSED
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REVIEW Series 63 EXAM 2024/100% PASSED
Registration - //a. Amount of securities to be offered in the state. Any
adverse ruling entered in connection with the offering by a state reg
authority. Other states in which a regs has been or will be filed
Filing fees - //a. Required to pay at time of initial registration and at annual
renewal
effective date - //a. Date on which the appropriate regulator releases the
security for public distribution
Amendments - //May amend registration statement after the fact to
increase number of shares
expiration dates - //1 year after effective date
registration by notification - //a. for well established corporations that meet
stringent financial requirements
b. total net worth of at least 4,000,000 2 of 3 previous years
c. been in business for 36 calendar months
d. commissions can't exceed 10%
e. can't have failed to pay dividend or defaulted on bond
f. $5 per share or more
application for registration must contain: - //a. statement of eligibility
,b. issuer's name, address and form of org
c. statement describing offering
d. copy of prospectus
registration by coordination - //a. may be registered this way if the same
offering is being registered under the securities Act of 1933
b. registration statement and 3 copies of prospectus
registration by qualification - //-intrastate offerings only (147)
-requirements determined by individual state
-used when either a security's federal registration has already become
effective or when no federal registration will be filed
disclosures required under qualification - //a. info about issuers
b. info about officers and directors
c. info on any person who owns more than 10%
d. capitalization and long term debt
e. type and amnt of securities to be offered
f. cash proceeds
g. copy of every prospectus, letter, advertisement,e tc
when does registration become effective? - //only when determined by
administrator
SEC rule 147 - //Securities sold within bounds of one state are exempt from
federal registration
-80% assets, gross rev, and proceeds in state
, exempt securities - //a. US govs and munis
b. Secs issued by banks, insurance cos. Etc
c. Not for profits,
d. Commissary notes
e. Federal covered secs
federal covered securities - //-
-not required to be registered at state level
Securities sold to qualified purchasers - //Own at least 5 mill in investments
notice filing - //State's demand that certain issuers of federal covered
securities satisfy state requirements, paying filing fee, and possibly filing
with an administrator any copies of material that has been filed with the
SEC as a part of the issuer's federal registration
exempt transactions - //a. Non-issuer
b. Fiduciary
c. Isolated
d. Private
e. Unsolicited
f. Trades b/w institutional investors, not involving public
amendments - //a. If material info becomes innacturate or outdated you
have 30 days to filed amendment
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