Series 63

Effects trades for the accounts of others; acts in an agency capacity.

A person licensed in the state in which he maintains a place of business and effects securities solely with exisitng customers who are not residents of the state in which the transaction takes place.

Effects trades for its own account; acts in a principal capacity.

Brokers/dealers. Agents. Investment Advisers. Investment Adviser Representatives.

Any individual (human being) or person.

Exists as a creature of law; must have a legal existence or identity.

Number of days a firm may continue doing business with a client who has moved to another state without registering.

Sets a limit to the amount of surety or fidelity bonds.

A natural person who represents a broker/dealer or an issuer (both legal entities) in transactions involving securities. Often referred to as a sales representative or registered representative.

Securites that are exempt from registration.

Transactions exempt from registration.

If agent is involved in exempt securities and exempt transactions. And if the employee gets a compensation from the sale of securities.

Any person who provides advice about securities; provides that advice as part of an ongoing business; and receives compensation for the investment advisory services.

The federal law defining an investment adviser. The USA patterned its definition of the investment adviser from this act.

Published by the SEC in 1987, it further expanded the definition of an investment adviser to include many financial planners and sports/entertainment agents.