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Series 63: Regulation of Securities & Issuers
Series 63 practice questionmediumOngoing Reporting

Which of the following is TRUE regarding ongoing reporting by issuers with state-registered securities under the USA?

  1. AThe Administrator may require periodic reports, but not more frequently than quarterly✓ Correct answer
  2. BIssuers must file monthly sales reports with the state
  3. CNo reports are required once registration is effective
  4. DIssuers must update the Administrator only if requested by an investor
Explanation

Why AThe Administrator may require periodic reports, but not more frequently than quarterly

Section 305 of the USA permits, but limits, ongoing reporting to quarterly or less frequent filings. Monthly (B) is too frequent, (C) is false, and investor-driven updates (D) are not in the USA.

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