Series 63 practice questionmediumConcurrent Jurisdiction—Notice Filing
A broker-dealer sells shares of a registered investment company in multiple states. Which state requirement applies to this covered security under the USA and NSMIA?
- ANotice filing and fee payment✓ Correct answer
- BState-level review of the offering's merits
- CFull registration of each share class in every state
- DNo filings or fees at the state level
Explanation
Why A — Notice filing and fee payment
States can require a notice filing and fees for covered investment companies (USA Section 302(d)), but cannot require merit review (B) or registration (C). D is incorrect because notice filing is still allowed.
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