What is the Uniform Securities Act?
The Uniform Securities Act is an act that is part of the law of the United States of America. Essentially, this federal act serves as the model or starting point for state-level regulations that are aimed at standardizing the buying and selling of securities. The point of the Uniform Securities Act is to create an environment in which it is possible to identify and deal with fraudulent activity across state lines. There have been several incarnations of the Uniform Securities Act. The first attempt to set a standard of this type was in 1930. At that time, the Uniform Sales of Securities Act was adopted, and included components that could easily be adopted by states and supported by the federal government. This act met with only limited success, however. By 1943, the creating entity, the National Conference of Commissioners on Uniform State Laws, chose to drop the act from the list of active uniform acts. A second attempt to present a viable option came in the form of the Uniform Securi
The Uniform Securities Act is especially important for students preparing for the series 63 exam and 66 exam. The Uniform Securities Act provided model legislation or a template for all the states to use when drafting state securities laws. The Uniform Securities Act made it much easier for broker dealers and issuers to conduct business on a national basis. Take some series 63 sample questions on our site at: http://www.securitiesce.com/web/pages/series63/index.php Take some series 66 sample questions on our site at: http://www.securitiesce.com/web/pages/series66/index.
