Definitions for Series 63 Vocabulary

a national organization of lawyers devoted to unifying state laws, who drafted the original Uniform Securities Act (USA).

a template or guide that each state uses in drafting its securities legislation.

Uniform Securities Act (USA)

refers to the office or agency that has the complete responsibility for administering the securities laws of the state.

used by the Administrator when a registered person has engaged or is about to engage in any act or practice constituting a violation of any provision of the USA or any rule or order under this Act. This only applies to registered securities personnel.

used to deny effectiveness to or suspend or revoke the effectiveness of any registration statement. - This only applies to securities.

One of the powers of the Administrator  with regard to registrations of both persons and securities.

whether pertaining to persons, exemptions or registrations this order can not be entered without appropriate prior notice to the interested parties, the opportunity for a hearing, and the written findings of fact and conclusion of law.

term used to refer to state securities laws - which originated from a case heard in Kansas in 1911 which led to the creation of the first set of securities regulations in the country.

any individual, natural person, or legal person such as a corporation, partnership, association, trust, unincorporated organization, government, or political subdivision of a government.

minors (anyone unable to enter into contracts under the laws of the state), deceased individuals (this does not include their estate) and individuals legally declared mentally incompetent.

any person engaged in the business of effecting transactions in securities for the account of others or for its own account. - remember the primary function of a BD is making securities transactions.

any individual who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities - on a FINRA exam, this role is referred to as registered representatives.

engages for compensation in the business of advising others, either directly or through publications, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or who as a part of regular business,  issues or promulgates analyses or reports concerning securities for compensation.

any individual (a natural person) who represents an investment advisor performing duties related to giving or soliciting advisory services.