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Terms in this set (22)
registration statement lasts for?
agent must notify the Admin. when changing jobs from one B/d to another B/d in how long?
criminal violations of an act are?
$5000, and 3 years in jail
Investment Adviser records, the adviser's articles of incorporation must be retained for:
life of the company +3 years
investment advisor order ticket
Name of the person at the IA who recommended the transaction;
Name of the person who placed the order;
Date of order entry;
Name of account for which order was entered;
Name of broker-dealer or bank to which the order was sent for execution;
Whether the order was discretionary.
A private placement is defined under the Uniform Securities Act as an offer to
no more than 10 persons in a year
Which form(s) MUST be signed by the customer in order to open a margin account?
how long can a IA hold funds with out being deemed "taking custody"
Under NASAA recordkeeping rules for investment advisers, any advertisement, circular or other communication must be retained:
if it is ciruclated to 2 or more people, ad must be kept for a minimum of 5 years
who cannot publish reports on success of recommened securities
what is a person?
individual, businesses (un and incorparated) issuer, joint venture
Correspondence is an item of an individual nature to a customer and includes a
written communication, an e-mail or an instant message.
can accept gifts
Since the SEC sets net capital requirement for broker-dealers, the State Administrator cannot set a minimum net capital amount that is
higher than the SEC requirement.
The NASAA Statement of Policy permits oral discretion to be exercised by an investment adviser for up to 10 business days;\
as long as a written power of attorney is obtained from the customer within 10 business days of exercising such oral discretion
If a person disagrees with a final order of the Administrator, which statement is TRUE?
The person may petition the court within 60 days of the order
DONT cover Federally covered advisors!
Advisers must retain records for
5 years under NASAA rules
agent is defined as an individual who effects securities transactions for either
a broker-dealer or an issuer,
if investment advisor takes funds
CPA does surprise audit, company has 30 days to submit to admin after audit
regular english word for Will
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