Registration Requirement

What this video covers

• The three gates that satisfy the general registration requirement under the Uniform Securities Act (USA): state registration, exemption, or federal covered security
• Why an offer alone triggers the registration requirement even when no sale occurs and no money changes hands
• How broadly the USA defines "offer" and "sale," including attempts to sell and solicitations of an offer to buy
• Registration by filing (notification): who qualifies as a seasoned issuer, the open-end fund and unit investment trust (UIT) route, and effective dates for each
• Registration by coordination: concurrent federal and state effectiveness with the Securities and Exchange Commission (SEC)
• Registration by qualification: the catch-all method, its reliance solely on the state administrator's order, and why it is the only method with no federal registration requirement
• Who chooses the registration method when an issuer qualifies for more than one, and that a registered broker-dealer may file on the issuer's behalf