The Investment Advisors Act of 1940; the federal law governing the regulation of investment advisers.
The Wisconsin Administrative Code which comprises the rules of the Division of Securities.
Central Registration Depository; the Financial Industry Regulatory Authority (FINRA)-operated clearinghouse for broker-dealer and securities agent applications and source of information on qualification examinations.
Wisconsin Department of Financial Institutions Division of Securities.
Section of the Wisconsin Administrative Code which comprises the rules of the Division of Securities; followed by the number of the section, sub-section and paragraph. In this case, sections 1 on definitions, 5 governing investment advisers and 7 establishing fees.
Financial Industry Regulatory Authority; the self-regulatory agency of broker-dealers and agents; also administers all qualification exams.
Investment Adviser Registration Depository; an electronic filing system that facilitates investment adviser registration, exempt reporting adviser filing, regualtory review, and the public disclosure information of registered investment adviser firms and individuals.
North American Securities Administrators Association; the organization of U.S. state, Canadian provincial and Mexican federal securities regulators. NASAA drafts model rules and policies, maintains the Series 63, 65 and 66 examination question bank and helps administer the CRD and IARD systems.
The U.S. Securities and Exchange Commission; the federal regulator of the securities industry.
Exam used mainly for securities agent state registration qualification.
Exam used for qualification of investment adviser representatives.
Exam combining state law testing and qualification of both securities agents and investment adviser representatives. For investment adviser representatives, this exam is only effective in combination with the Series 7 General Securities Representative Exam.
The Securities Industry Essentials® (SIE®) Exam is a FINRA exam for prospective securities industry professionals. This introductory-level exam assesses a candidate’s knowledge of basic securities industry information including concepts fundamental to working in the industry, such as types of products and their risks, the structure of the securities industry markets, regulatory agencies and their functions, and prohibited practices.
Uniform Combined State Law Examination; Series 66 exam combining state law testing and qualification of both securities agents and investment adviser representatives.
Uniform Investment Adviser Law Examination; Series 65 exam used for qualification of investment adviser representatives.
Uniform Securities Agent State Law Examination; Series 63 exam used mainly for securities agent state registration qualification.
Wis. Admin. Code:
Wisconsin Administrative Code; comprises the rules of the Division of Securities.
Wisconsin Statutes; in this case, the Wisconsin Uniform Securities Law, Chapter 551.
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