NASAA Series 63Regulation of Securities and IssuersHard
Under registration by coordination, a registration statement filed with the Administrator generally must have been on file for how many days before it can become effective, absent a shorter period ordered by the Administrator?
- A10 days
- B20 days
- C5 business days
- D30 days
Show answer & explanationAnswer & explanation
Correct answer: A. 10 days
Under the Uniform Securities Act, registration by coordination requires that the registration statement be on file with the Administrator for at least 10 days before it can become effective (unless the Administrator allows a shorter period), and it becomes effective simultaneously with the federal registration.
Why the other options are wrong
- B. 20 days is not the standard waiting period under the Act.
- C. 5 business days is more consistent with registration by filing effectiveness periods.
- D. 30 days is not the standard waiting period under the Act.
Coordination Waiting Period
Under registration by coordination, the registration statement must be on file with the Administrator for at least 10 days before it can become effective, absent Administrator waiver.
- 10-day minimum waiting period
- Becomes effective simultaneously with SEC registration
- Administrator may shorten the period
Memory trick: Ten days to coordinate before going live