Federal Covered Securities and State Jurisdiction
As previously mentioned, securities registered at the federal level do not have to be registered at the state level. This is meant to help avoid redundant filings for issuers and unneeded oversight for regulators.
The following securities must be registered at the federal level, which also means they will not be registered on the state level:
- 1. Securities listed on the New York Stock Exchange, American Stock Exchange, or another national exchange
- 2. Securities issued by an investment company that qualifies under the Investment Company Act of 1940
- 3. Securities that are senior to existing securities already registered at a federal level
- 4. Any other securities feder
