Series 63 practice questionmediumAgent exemption - limited transactions
An agent of a broker-dealer is effecting transactions exclusively with the officers of the issuer in non-issuer transactions. According to the USA, the agent:
- AIs required to register in the state.✓ Correct answer
- BIs exempt from registration due to limited transaction exemption.
- CMay only rely on the institutional exemption.
- DIs exempt only if the securities are federal covered.
Explanation
Why A — Is required to register in the state.
The individual represents a broker-dealer in securities transactions and the stem supplies no agent-registration exemption. The fact that the counterparties are officers of the issuer does not by itself exempt the broker-dealer's agent.
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