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Time stamps:
00:00 Intro
1:09 December 31 expirations of registrations of unnatural persons (firm) and natural persons (agents and investment advisor representatives)
1:40 One year expiration from the effective date of securities registration
1:50 Successor firm
2:00 Consent to service
2:15 B/D net worth or net capital is not controlled by the state
2:40 B/D with office in state must register in state
2:48 Minors, persons now deceased, and persons declared mentally incompetent are NOT persons under the Inform Securities Act
3:00 $10K net worth if only discretion. $35K net worth if custody
4:10 EXEMPT TRANSACTIONS
5:00 Notification of termination of registration to state administrator
6:00 Splitting commissions
6:16 Snowbirds
7:07 Record retention
7:25 WSPs
8:00 Margin accounts
8:07 securities liquidated under a bona fide loan are exempt transactions
8:46 Right of recission
9:17 Offers require payment. No payment, no offer.
10:13 Summary "stop" orders from the administrator
10:30 $5K or $35K net worth
10:40 Federally covered Investment Advisors
11:45 Lawyers, Accountants. Teachers, Engineers (LATE)
12:18 ABC test
13:04 Surety bonds
13:18 Entire universe of selections for 12 months
13:38 Third party solicitors
14:02 Client confidentiality
14:25 Performance based compensation
15:15 Agency cross transactions
16:08 Third party solicitors
17:44 Checks received inadvertently returned within 3 business days
18:59 No borrowing from customers
20:00 No assignment of investment advisory contracts without consent
20:46 Brochure delivery
21:54 Amendments within 120 days of fiscal year end
22:20 Cyber security in WSPs
22:56 ADRs
23:46 Preferred stock
23:52 DCF for a stock with a fixed dividend is called the dividend discount model
25:22 Fundamental Analysis
23:52 Current yield, YTM, YTC
26:46 Duration
28:38 Money market securities
29:09 Average maturities used when doing DCF for mortgage pass through securities
29:20 Open versus closed end
29:49 NYSE and NASDAQ
30:09 Breakpoints
30:59 REITs 90% pass though
31:22 ETFs versus ETNs
32:00 INSURANCE
34:34 Equity index annuities. No negative reset
34:56 OPTIONS
35:40 Forwards and futures
36:55 Hedge funds
37:40 Precious metals
38:38 Future value
39:00 Present value
39:15 Rule of 72
39:30 IRR
40:05 Alpha and Beta
40:25 Negative correlation
41:02 Systematic risk versus unsystematic risk
41:45 Common stock and TIPS for inflation hedges
42:15 Legislative risk
43:12 JTWROS versus TIC
44:25 Power of attorney. Trading authorization.
44:46 Trusts
46:05 Customer balance sheet
47:49 Modern Portfolio Theory
48:40 Efficient market hypothesis
49:00 Dollar cost averaging
50:32 Flow through business structures and C corp
51:00 Cost basis of securities gifted versus securities inherited
52:40 Disclosure of capacity
55:03 Benchmarks
55:30 Retirement and custodial accounts
57:00 Investment Policy Statement

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