Regulations Flashcard

Front

What are the four tiers of regulation in the securities industry?

Back

Federal laws, state laws, self-regulatory organization rules, firm-specific policies

Front

What is the primary function of the Federal Reserve Board (FRB)?

Back

To control the nation’s monetary policy

Front

What is the current FDIC insurance coverage limit per depositor?

Back

$250,000

Front

What are the state laws that require registration of securities before selling them called?

Back

Blue-sky laws

Front

What is the focus of the North American Securities Administrators Association (NASAA)?

Back

Protecting investors from fraud

Front

What document must firms create to supervise their personnel?

Back

Written Supervisory Procedures (WSP)

Front

What does the primary market refer to?

Back

Issuance of new securities

Front

What is the maximum fine for individuals convicted of insider trading under the Act of 1988?

Back

$5 million