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. Debt securities or preferred stock of any of the companies who have stocks listed on the exchanges above
- 3. Securities issued by an investment company that qualifies under the Investment Compa
