securities review - Chapter Review 1. A security is any...

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Chapter Review 1. A security is any transaction in which the buyer invests money in a common enterprise and expects to earn a profit predominantly from the efforts of others. 2. Before any offer or sale, an issuer must register securities with the SEC, unless the securities qualify for an exemption. 3. These securities are exempt from the registration requirement: government securities, bank securities, short-term notes, nonprofit issues, insurance policies, and annuity contracts. 4. The following table compares the different types of securities offerings: Public Offering Intrastate Offering Regulation A Regulation D: Rule 504 Regulation D: Rule 505 Regulation D: Rule 506 Maximum Value of Securities Sold Unlimited Unlimited $5 million $1 million $5 million Unlimited Public Solicitation of Purchasers Permitted Permitted Permitted Sometimes Permitted Not permitted Not permitted Suitability Requirements for Purchasers No requirements Must reside in issuer’s state No requirements May be limited
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This note was uploaded on 03/24/2012 for the course HCA 210 HCA 210 taught by Professor Suziemays during the Spring '10 term at University of Phoenix.

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securities review - Chapter Review 1. A security is any...

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