Regulation of Securities and Issuers: NASAA Series 63 topic guide

Regulation of Securities and Issuers carries 9% of the NASAA Series 63 blueprint used in this course, the 6th-largest of its 8 weighted areas. It spans 5 concepts. The course teaches it in 1 study unit: Regulation of Securities and Issuers.

What Regulation of Securities and Issuers covers

• What is the HOWEY test for whether an instrument is a SECURITY? — SEC v. W.J. Howey Co., 328 U.S. 293
• What are the THREE state securities-registration methods, and when does each apply? — USA §§301–305
• What are EXEMPT SECURITIES under USA §402? — USA §402
• What are EXEMPT TRANSACTIONS under USA §402? — USA §402
• Exempt SECURITY or exempt TRANSACTION — what is the core distinction, and why is it the exam's #1 fail cluster? — USA §402 vs §402

How Regulation of Securities and Issuers connects to other areas

• Exempt SECURITY or exempt TRANSACTION — what is the core distinction, and why is it the exam's #1 fail cluster? links to Does an exemption from securities REGISTRATION also exempt a person from the USA's ANTIFRAUD provisions? — Remedies and Administrative Provisions
• What are EXEMPT SECURITIES under USA §402? links to Does an exemption from securities REGISTRATION also exempt a person from the USA's ANTIFRAUD provisions? — Remedies and Administrative Provisions
• What are EXEMPT TRANSACTIONS under USA §402? links to Does an exemption from securities REGISTRATION also exempt a person from the USA's ANTIFRAUD provisions? — Remedies and Administrative Provisions

Official references for Regulation of Securities and Issuers

• SEC v. W.J. Howey Co., 328 U.S.: 293
• USA §§301–305
• USA: §402
• USA §402 vs: §402

In the app this area comes with 5 memory cards and 8 module-quiz questions in the full course.