In the article "A New Uniform Securities Act" by Richard B. Smith, registration by coordination is outlined as follows:

"The objective of coordination is the simultaneous registration of the offering at the SEC and in the states where the offering is to be made. In order to facilitate coordinated registration, the state securities administrators association has implemented a system for coordinated review of these offerings by the states."

Under the USA, registration by coordination is for securities that are registered with the SEC but are not federal covered securities.

Securities that may fall into this category include those that do not meet the listing standards of exchanges and/or are upgrading.
 

Look Out!
The term "coordination" describes registration, as the securities are to be registered with the SEC and with individual states where they will be offered and/or sold.


Under registration by coordination, the issuer, offeror or broker-dealer of the security generally needs to supply the Administrator with a long laundry list of items regarding the security.

The USA states that registration by coordination is for a "security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering". Along with a registration application, the USA states that issuers must also file the following:

  • A copy of the latest form of prospectus filed under the Securities Act of 1933
  • A copy of the articles of incorporation and bylaws or their substantial equivalents currently in effect
  • A copy of any agreement with or among underwriters
  • A copy of any indenture or other instrument governing the issuance of the security to be registered
  • A specimen, copy or description of the security
  • Copies of any other information or any other records filed by the issuer under the Securities Act of 1933 and requested by the Administrator
  • An undertaking to forward each amendment to the federal prospectus, other than an amendment that delays the effective date of the registration statement, promptly after it is filed with the Securities and Exchange Commission

A registration becomes effective subsequent to the federal registration if:

  • a stop order or proceeding is not pending.
  • the registration statement has been on file for at least 20 days, (or less, depending on the rule adopted or order issued under the USA.)

If federal registration is met (before all the aforementioned conditions are met), the issuer is obligated to notify the Administrator immediately.

Registration by Qualification

Related Articles
  1. Managing Wealth

    Trade Name Vs. Trademark: Know the Difference

    Understand the differences between a trade name and a trademark, the different functions they serve and registration considerations for business owners.
  2. Insights

    The National Futures Association As Market Watchdog

    As the overseer of the commodities and futures industry, the NFA helps to protect investors from fraudulent futures activities.
  3. Investing

    What's the Primary Market?

    The primary markets are where investors can get first crack at a new security issuance.
  4. Investing

    SEC Filings: Forms You Need To Know

    The forms companies are required to file provide a clear view of their histories and progress.
  5. Investing

    Commercial Paper

    Commercial paper is a short-term debt security issued by financial companies and large corporations. The corporation promises the buyer a return, or profit, for making the loan. The return is ...
  6. Tech

    Bitcoin Gets Boost From Japan

    On September 29, Japan’s Financial Services Agency approved 11 companies as operators of cryptocurrency exchanges.
  7. Financial Advisor

    Why Bad Credit Is Bad For Financial Careers

    In order to obtain and maintain a career in the financial industry, it is also important to have a clean credit report.
  8. Financial Advisor

    Series 63, Series 65 Or Series 66?

    When joining the world of investment professionals, you must take the right exams.
  9. Insights

    Understanding the SEC

    The SEC's triple mandate of investor protection, maintenance of orderly markets and facilitation of capital formation makes it a vital player in capital markets.
  10. Financial Advisor

    Be A One-Stop Shop For Your Clients

    Offering comprehensive financial services can bring in business, but coordination is the key to success.
Frequently Asked Questions
  1. Why Do Most of My Mortgage Payments Start Out as Interest?

    Fear not: Over the life of the mortgage, the portions of interest to principal will change.
  2. What is the difference between secured and unsecured debts?

    The differences between secured and unsecured debt, and how banks buffer risks associated with each type of loan through ...
  3. How Many Times has Warren Buffett Been Married?

    Warren Buffett has been married twice in his life, but the circumstances surrounding the marriages were unconventional.
  4. What's the smallest number of shares of stock that I can buy?

    Many people would say the smallest number of shares an investor can purchase is one, but the real answer is not as straightforward. ...
Trading Center