Frequently Asked Question
Transactions are exempt from registration where …
Transactions are exempt from registration where …
a. A sale, or offer of sale is made to ALL clients of a brokerage firm.
b. The securities are listed on a major exchange, like the Nasdaq or the NYSE.
c. The transaction involves a sale, or offer to sell, to an institutional investor, federal covered investment advisor or any other person exempted.
d. The transaction is between a broker and a dealer.
Correct answer: "c" The thirteenth bullet point under the exempt transactions portion of the study guide states exempt transactions are:
oSale
- An institutional investor.
- Federally covered investment advisor.
- Any other person exempted.
a. A sale, or offer of sale is made to ALL clients of a brokerage firm.
b. The securities are listed on a major exchange, like the Nasdaq or the NYSE.
c. The transaction involves a sale, or offer to sell, to an institutional investor, federal covered investment advisor or any other person exempted.
d. The transaction is between a broker and a dealer.
Correct answer: "c" The thirteenth bullet point under the exempt transactions portion of the study guide states exempt transactions are:
o
- An institutional investor.
- Federally covered investment advisor.
- Any other person exempted.
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