Series 63 practice questionmediumSecurities Registration — Qualification
Which of the following is required for registration by qualification but NOT for registration by coordination?
- AA consent to service of process
- BA copy of the security being offered
- CPayment of a filing fee
- DDetailed information about the issuer's directors, officers, and 10% shareholders including their security holdings and compensation✓ Correct answer
Explanation
Why D — Detailed information about the issuer's directors, officers, and 10% shareholders including their security holdings and compensation
Under USA Section 304, registration by qualification requires the most extensive disclosure, including detailed biographical and financial information about directors, officers, and principal shareholders. Registration by coordination under Section 303 relies on the SEC filing for much of this information, making it less burdensome at the state level.
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