Question of the Week

Under the Uniform Securities Act, the Administrator of California may examine the financial books and records of all of the following, EXCEPT?

a) A broker-dealer in Illinois that has no California branches and doesn’t trade in California
b) The main office in Illinois of the California branch referred to above
c) Investment adviser’s office in California
d) The branch office of a broker-dealer in California whose main office is in Illinois


Answer:

The correct answer is a.

The Administrator has jurisdiction over investment advisers, broker-dealers and sales representatives located in the state or involved with securities offers directed into the state. However, the Administrator has no jurisdiction over an office located outside the state, which has no branch office or securities activities within the state.


Financial Professionals
  1. the general ledger is the record of a company's entire financial transaction history.
    Investing

    What's a General Ledger?

  2. Several things factor into the salary of a financial advisor. Here's a look.
    Investing Basics

    How Much Does A Financial Advisor Earn?

  3. These 5 strategies offer financial advisors a blueprint on how to grow their practices.
    Professionals

    Growth Strategies For Financial Advisors

  4. If you're considering investing in China and want to know when to buy, sell, hold or stay away, consider these economic indicators.
    Economics

    Eyeing China? Consider These Economic Indicators

  5. Whether you're a saver or a financial advisor who want to give their clients a leg up, these 8 tips are essential for financial planning.
    Investing Basics

    8 Essential Tips For Retirement Saving