SIE Overview of the Regulatory Framework Question 4: Answer and Explanation

Question: 4

Which of the following is the Application for Securities Industry Registration or Transfer?

• A. Schedule A
• B. Form BD
• C. Form U5
• D. Form U4

Correct Answer: D

Explanation:

D: Form U4 is the Application for Securities Industry Registration or Transfer. In addition to its use in the initial application for registration, it is to be updated within thirty days of any significant changes. Choice A, Schedule A – Schedule of Information Required in Registration Statement, is a supplement required by the SEC when filing a registration of a securities issue of a U.S. company. Choice B, Form BD – Uniform Application for Broker-Dealer Registration, is the form to initiate registration for a broker-dealer with regulatory authorities such as FINRA and the Securities Exchange Commission. Choice C, Form U5 – Uniform Termination Notice for Security Industry Registration, is the form to end registration with FINRA, states, and territories. A firm is to update the form when it learns of pertinent data.