Securities RegistrationCâu 39 / 100
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.Required to be registered by coordination in the state
b.Required to be registered by qualification in the state
c.A federal covered security, so the state may require only a notice filing, fees, and a consent to service of process, while retaining antifraud authority
d.Completely outside the state Administrator's reach for any purpose
Giải thích
Investment company shares registered under the Investment Company Act of 1940 are federal covered securities, and federal law bars states from requiring their registration. States may still require notice filings, collect fees, and demand a consent to service of process. Antifraud jurisdiction is never preempted, so the last choice overstates the preemption.
Trích dẫn luật: Uniform Securities ActLuyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- 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:
- Which statement about registration by qualification is correct?
- Registration by notification, sometimes called registration by filing, is generally available to:
- 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:
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