RegistrationPregunta 1 de 100
An individual is hired by a start-up corporation to sell the corporation's own common stock to retail investors in State A, and she is paid a commission on each sale. Under the Uniform Securities Act, this individual is:
a.An issuer, because she sells only the company's own shares
b.Excluded from the definition of agent because she represents an issuer rather than a broker-dealer
c.An agent who must register in State A
d.A broker-dealer, because she effects securities transactions for compensation
Explicación
An agent is an individual who represents a broker-dealer or an issuer in effecting or attempting to effect purchases or sales of securities, so representing an issuer does not by itself create an exclusion. The narrow exclusions for issuer representatives cover certain exempt securities, specified exempt transactions, and employee plans with no commission, none of which apply to commissioned retail sales of common stock. She is not the issuer; the corporation is. She is not a broker-dealer because a natural person representing an issuer is treated as an agent.
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