Series 63 practice questionhardState Actions: Notice Filings
Under NSMIA, for which of the following may a state Administrator require a notice filing?
- AShares of an open-end investment company registered with the SEC✓ Correct answer
- BShares traded on a foreign stock exchange
- CSecurities sold solely to accredited investors under Rule 504
- DDebt securities issued by a privately held corporation
Explanation
Why A — Shares of an open-end investment company registered with the SEC
States may require notice filings for federally covered mutual fund shares (A) (USA Section 302(d)). Rule 504 securities and private debt are not covered, and foreign exchange shares are not covered securities in the U.S. context.
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