Series 16 (Supervisory Analysts Exam) Test Bank Free Trial

Rule 144 – Persons Deemed Not to Be Engaged in a Distribution and Therefore Not Underwriter
Securities issued under Section 4(6) are deemed restricted securities even though they are not referred to specifically in the definition of the term restricted securities set forth in Rule 144.

Rule 144 – Persons Deemed Not to Be Engaged in a Distribution and Therefore Not Underwriter
The transfer of the restricted securities from the portfolio of the closely-held entity to its equity holders will not disturb the holding period if the distribution is made ratably and without the payment of consideration for the transfer.

Rule 137 – Publications or Distributions of Research Reports by Brokers or Dealers That Are Not Participating In an Issuer’s Registered Distribution of Securities
Moreover, issuers, with the involvement of senior management, now must implement and evaluate disclosure controls and procedures and internal controls over financial reporting.

NYSE Rule 345
the term “Exchange Book” is referred to the Exchange’s electronic file of orders.

NYSE Rule 342 (b)
Accordingly, a member organization engaged in public business in addition to a DMM business must have a qualified compliance supervisor that has passed the Series 14 Examination, but would no longer need the Series 14A Examination.

Rule#2020
three provisions that prohibit specific manipulative and fraudulent misconduct prohibits excessive trading by a member for accounts in which the member is directly or indirectly interested.prohibits buying or selling a security at successively higher or lower prices, respectively, for the purpose of improperly influencing the market price of the security; prohibits direct or indirect participation in a manipulative operation; prohibits having any interest in the profits of a manipulative operation,

Rule 2241- Research Analysts and Research Reports
“Investment banking services” include, without limitation, acting as an underwriter, participating in a selling group in an offering for the issuer or otherwise acting in furtherance of a public offering of the issuer; acting as a financial adviser in a merger or acquisition; providing venture capital or equity lines of credit or serving as placement agent for the issuer or otherwise acting in furtherance of a private offering of the issuer.

Reference rule 2010
FINRA (Financial Industry Regulatory Authority)

FINRA Rule 2210 (Communications with the Public)
Retail communications that include self-created rankings or comparisons present a greater risk of being misleading than bond fund volatility ratings, since: They are not created by an entity that is independent of the member, Security futures are more complex, and potentially more volatile than most bond mutual funds.

Rule 1220
An associated person shall not be required to register as an Investment Banking Representative if his or her activities in the investment banking or securities business of a member are limited solely to:
a. advising on or facilitating the placement of direct participation program securities as defined in paragraph (b)(8)(A) of this Rule;
b. effecting private securities offerings as specified in paragraph (b)(9) of this Rule; or c. retail or institutional sales and trading activities.
c. retail or institutional sales and trading activities.