us government rules and regulations Flashcards Preview

series 7 take 2 > us government rules and regulations > Flashcards

Flashcards in us government rules and regulations Deck (17):
1

principal of a firm must review and approve:

-account openings
-transactions
-advertising
-correspondence
-customer complaints

2

securities and exchange act of 1934

-people and places act
-regulates broker dealers and requires registration

3

trust indenture act of 1939

-applicable to corporate bond offerings of greater than $5 million in 12 months
-establishes a contract between the issuer and the trustee for the benefit of the bondholder

4

investment company act of 1940

-classified three types of investment companies
-regulates investment companies

5

investment advisors act of 1940

-requires the registration of investment advisors who charge fees for investment advice

6

securities investors protection act of 1970

-protects customers from BD failure
-created the SIPC

7

insider trading and securities fraud enforcement act of 1988

-specifies penalties for inside trading and securities fraud

8

the employee retirement income security act of 1974

-established to prevent abuse or misuse of pension funds

9

telephone consumer protection act of 1991

-protects consumers from unwanted telephone calls

10

bank secrecy act

-establishes the US treasury lead agency developing anti-money laundering programs

11

sarbanes-oxley act of 2002

-requires SROs in the securities industry to establish research analysis conflict of interent rules for its memebers

12

the uniform securities act

-establishes a framework for state registration
-applies to BDs, RRs, IAs

13

regulation S-P

-enacted by SEC to protect the privacy of customer information
-requires privacy notice describing privacy policies

14

regulation SHO

-mandates a locate requirement for securities to be sold short prior to short sales

15

regulation NMS

-enacted to bring trading and reporting uniformity to US security markets

16

regulation A

-small offerings exempt transaction allowing issuers to raise up to $5 mill in a 12 month period with full registration

17

regulation D

-private placement exempt transaction
-up to 35 nonaccredited investors
-accredited investors must meet minimum net worth requirements