Securities RegistrationQuestion 50 of 100
Which statement about a state securities registration statement is correct?
a.It may be filed only by the issuer itself
b.Once declared effective it remains effective indefinitely
c.It may not be amended after the effective date under any circumstances
d.It may be filed by the issuer, by any other person on whose behalf the offering is made, or by a registered broker-dealer, and it is generally effective for one year
Explanation
The act allows the issuer, a selling shareholder or other person on whose behalf the offering is being made, or a registered broker-dealer to file the registration statement. Effectiveness generally runs for one year from the effective date, so a continuing offering must be renewed. Post-effective amendments are permitted, most commonly to increase the number of shares registered.
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Related questions on this topic
- Which of the following is an exempt transaction under the Uniform Securities Act?
- In an administrative proceeding, a party claims that an offering qualified for an exemption from registration. Which statement is correct?
- A seller relies on a valid exempt transaction and therefore does not register the securities. Which statement is correct?
- A small issuer registers a stock offering by qualification. The Administrator is concerned that the business plan cannot be carried out unless a substantial portion of the offering is sold. The Administrator may:
- After a securities registration statement becomes effective in a state, the Administrator may require the person who filed it to:
- A corporation issues short-term notes to raise working capital. For the notes to fall within the commercial paper exemption, they must generally:
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