Wiley Series 55 Exam Review 2014 + Test Bank

Wiley Series 55 Exam Review prepares candidates for the Equity Trader Qualification Examination, which qualifies a representative to trade equity and convertible debt securities on a principal or agency basis. The book addresses, among other topics, NASDAQ securities, over–the–counter securities, quotation and market maker requirements, trading halts, market halts, pre–arranged and third party trades, anti–competitive trading, and insider trading regulations. Candidates will gain access to an online test bank for each chapter and thorough preparation for the FINRA exam. INDICE: ABOUT THE SERIES 55 EXAM IX ABOUT THIS BOOK XIII ABOUT THE TEST BANK XV ABOUT THE SECURITIES INSTITUTE OF AMERICA XVII CHAPTER 1 ISSUING CORPORATE SECURITIES 1 The Prospectus 2 The Final Prospectus 3 Prospectus to Be Provided to Aftermarket Purchasers 3 SEC Disclaimer 4 Misrepresentations 4 Tombstone Ads 4 Free Riding and Withholding/FINRA Rule 5130 5 Underwriting Corporate Securities 6 Types of Underwriting Commitments 6 Market Out Clause 7 Types of Offerings 7 Awarding the Issue 8 The Underwriting Syndicate 8 Exempt Securities 8 Exempt Transactions 9 Rule 137 Nonparticipants 14 Rule 138 Nonequivalent Securities 14 Rule 139 Issuing Research Reports 14 Rule 415 Shelf Registration 15 Pretest 17 CHAPTER 2 THE SECURITIES MARKETPLACE 21 Types of Orders 21 The Exchanges 25 The Role of The Specialist/Designated Market Maker (DMM) 25 Short Sales 29 Reading the Consolidated Tape 34 Pretest 37 CHAPTER 3 TRADING OVER THE COUNTER AND NASDAQ SECURITIES 39 Market Makers 39 Nasdaq Subscription Levels 40 Registering as a Market Maker 41 Registering as a Market Maker in an OTC BB Security 41 Piggybacking a Quote 43 Nasdaq Quotes 44 Locked and Crossed Markets 45 Nominal Nasdaq Quotes 45 Payments for Market Making 45 Nasdaq Execution Systems 46 Order Entry Parameters 49 The Order Routing Process 50 Pegged Orders 51 The Alternative Display Facility (ADF) 51 Trade Reporting and Comparison Service (TRACS) 52 Advanced Computerized Execution System (ACES) 52 Electronic Communication Networks (ECNs) 53 Unlisted Trading Privileges 54 Market Centers 54 NonNasdaq OTC BB 57 Pink Sheets 58 Third Market 58 Nasdaq Market Center For Listed Securities 59 Fourth Market 59 Pretest 61 CHAPTER 4 MARKET MAKER RESPONSIBILITIES AND TRADE REPORTING 65 Times for Entering a Quote 65 Withdrawing Quotes 68 Handling and Displaying Customer Limit Orders 69 Interpositioning 73 Automated Confirmation System (ACT) Market Center Trade Reporting Facility 73 Nasdaq Trade Reporting Facility (TRF) 79 Step Out Trades 79 Trading Halts 80 Market Making During Syndication 81 Syndicate Short Positions 86 Pricing of IPOs 86 Trade Reporting and Compliance Engine (TRACE) 87 Pretest 91 CHAPTER 5 COMMISSIONS AND TRADE COMPLAINTS 95 Broker vs. Dealer 95 FINRA 5% Markup Policy 96 Markups/Markdowns When Acting as a Principal 97 Riskless Principal Transactions 98 Proceeds Transactions 98 Dominated and Controlled Markets 98 Net Transactions with Customers 99 Protection of Customer Orders 100 Firm Quote Rule 100 Trade Complaints between Members 102 The Order Audit Trail System (OATS) 102 Electronic Blue Sheets 103 Pretest 105 CHAPTER 6 SECURITIES INDUSTRY RULES AND REGULATIONS 107 The Securities Exchange Act of 1934 107 The Securities Exchange Commission (SEC) 108 Trading Suspensions 109 Issuers Repurchasing Their Own Securities 109 Tender Offers 110 The Insider Trading and Securities Fraud Enforcement Act of 1988 112 Firewall 113 Nasdaq Listing Standards 113 The Penny Stock Cold Call Rule 113 Fair Dealings with Clients 115 The Uniform Practice Code 119 Prime Brokerage Accounts 123 Investment Advisors Act of 1940 125 Brochure Delivery 125 Wrap Accounts 125 Securities Investor Protection Corporation Act of 1970 126 Pretest 127 ANSWER KEYS 131 GLOSSARY OF EXAM TERMS 135 INDEX 201

• ISBN: 978-1-118-71957-2
• Editorial: John Wiley & Sons
• Encuadernacion: Rústica
• Páginas: 192
• Fecha Publicación: 22/01/2014
• Nº Volúmenes: 1
• Idioma: Inglés