Federal Covered Securities: Notice Filing
Chapters in this video
- 0:00 NSMIA as the federal force field against state registration
- 1:33 The three-step investment company notice filing
- 2:41 Consent to service of process: why Stan gets jurisdiction
- 3:05 Reg D Form D and the 15-day first in-state sale trap
- 4:05 Exchange-listed securities: the VIP exception with zero state power
- 5:37 Administrator waiver authority by rule or order
- 5:44 Stop order dual trigger: public interest plus notice-filing failure
- 6:55 Why antifraud authority survives even for exchange-listed stocks
- 7:53 Rapid-fire exam recap
What this video covers
- What federal covered securities are, and how the National Securities Markets Improvement Act of 1996 (NSMIA) preempts state registration
- The three-step notice filing for investment company securities: initial federal documents plus consent to service of process, concurrent amendments, and the value report
- What a consent to service of process actually does, and why the Administrator demands irrevocable jurisdiction over the issuer
- The Regulation D (Reg D) notice filing rule: federal Form D, fees, and the 15-day deadline measured from the first in-state sale (not offering announcement)
- The exchange-listed securities exception: why NYSE and NASDAQ listings face zero state filings, zero fees, and zero stop orders
- The dual trigger for a stop order on federal covered securities: public interest plus failure to comply with a notice-filing condition
- Why state antifraud authority survives everything, including exchange-listed securities, and how cease and desist orders or injunctions still apply
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