Securities RegistrationQuestion 36 of 100
An issuer is conducting an interstate public offering and has filed a registration statement with the SEC under the Securities Act of 1933. To register the same offering in a state, the issuer would most appropriately use:
a.Registration by qualification
b.Registration by coordination
c.Registration by notification
d.No state registration, because a federal filing always preempts state law
Explanation
Registration by coordination is designed for offerings registered federally under the Securities Act of 1933; the state filing rides alongside the federal one and becomes effective at the same moment as the federal registration, provided the state's timing and pricing conditions are satisfied. Qualification is the fallback for offerings with no federal filing. Notification is a streamlined route reserved for established issuers. Federal preemption applies only to federal covered securities, which is a separate concept from simply having filed with the SEC.
Law Reference: Uniform Securities ActPractice all 100 questions free — no signup required.
Related questions on this topic
- Which statement about registration by qualification is correct?
- Registration by notification, sometimes called registration by filing, is generally available to:
- A mutual fund registered under the Investment Company Act of 1940 offers shares to residents of State G. With respect to State G, the fund's shares are:
- A privately held manufacturer sells its unregistered notes to eight insurance companies and two banks. No general advertising is used. This offering is best described as:
- Which statement about United States Treasury bonds under the Uniform Securities Act is correct?
- An individual investor sells 200 shares of an unregistered local company directly to her neighbor in a one-time private arrangement, with no broker involved and no pattern of similar sales. This is best characterized as:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NASAA Series 63 — Uniform Securities Agent State Law Exam · How we review