Exercise
Answer Yes or No
- 1. _____ A firm has an office in State A and three non-institutional clients in State B. Does the firm need to be registered in State B?
- 2. _____ A firm has an office in State C, but its only client is a corporation located in state D. The corporation issued the securities being bought and sold. Does the firm need to be registered in State D?
- 3. _____ A firm has an office in State E and has three clients in State F. Those clients are a mutual fund, a savings institution, and a retail investor. Does the firm need to be registered in State F?
- 4. _____ On January 15, North Star Investment, a Canadian broker-dealer, reaches an agreement to effect trades for Jim Maple, who is vacationing in Florida at the time. Two days later, a North Star agent makes a transaction for Jim, who is still in Florida. Does
