Securities Registration
State vs federal jurisdictional rules: federal covered securities, blue sky laws, registration methods (coordination, qualification, filing), and investor qualification criteria
Why This Matters on the Series 65
This cluster covers securities registration concepts tested on the Series 65 exam. Understanding how these terms relate helps you answer scenario-based questions that test conceptual connections.
Terms in This Cluster (2)
Registration by Coordination
highA state securities registration method under the Uniform Securities Act for securities simultaneously registered with the SEC under the Securities Act of 1933. The state registration becomes effective at the same time as the SEC registration, provided no stop order is pending, the minimum filing period (10-20 days depending on state) has elapsed, and required pricing information was filed at least 2 business days prior. Most efficient method for multi-state public offerings because it coordinates federal and state filings into a single effective date.
Example: TechStart Inc. plans to raise $50 million through an initial public offering (IPO) to investors in 1...
Registration by Filing
highA streamlined state securities registration method used exclusively for federal covered securities (primarily mutual funds and exchange-listed securities). Filing becomes effective automatically without state approval or merit review. States may only require filing documents, collecting fees, and enforcing anti-fraud provisions.
Example: Vanguard Total Stock Market Index Fund, a mutual fund registered under the Investment Company Act of...
Study Tips for Securities Registration
Connect the Concepts
Don't memorize these terms in isolation. Understanding how they relate helps you tackle scenario-based exam questions.
Focus on High-Priority Terms
Start with terms marked "high" relevance. These appear most frequently on the exam and form the foundation for understanding related concepts.
Use Real Examples
Each term includes exam-relevant examples. Practice applying concepts to scenarios rather than just memorizing definitions.