Products第 32 / 110 题
A 529 college savings plan interest is classified for regulatory purposes as:
a.A municipal fund security, subject to MSRB rules
b.An open-end investment company registered under the Investment Company Act of 1940
c.A variable annuity separate account interest
d.An exempt security not subject to any securities regulation
解析
Because 529 plans are established by states, their interests are municipal fund securities and sales practices are governed by MSRB rules rather than by the Investment Company Act. Investors receive an official statement or program disclosure document rather than a statutory prospectus. Calling them completely unregulated is wrong, as suitability, disclosure, and advertising rules all apply.
法律依据: Internal Revenue Code Section 529免费刷完整 110 道题库 — 无需注册。
同考点相关题目
- Which feature distinguishes a unit investment trust from a management company?
- Shares of a closed-end investment company differ from open-end fund shares because closed-end shares:
- An open-end investment company may issue:
- A grandparent withdraws $8,000 from a 529 plan and uses all of it for the beneficiary's college tuition. The federal tax treatment of the earnings portion is:
- Which statement about control of a 529 plan account is accurate?
- The Investment Company Act of 1940 classifies investment companies into which three types?