In order to solicit orders for any type of security, a broker or representative must pass the Series 63 examination, in addition to the Series 6 or Series 7. These tests are administered by FINRA, the financial services industry self-regulatory organization (SRO), and serve as licensing requirements for financial services representatives and management in the field. The 6 and 7 deal with product and industry knowledge and theory, while the 63 covers state-specific laws and rules, along with an understanding of ethical and fiduciary responsibility. The Series 63 takes only 75 minutes, with 65 multiple choice questions. Continue reading...
The general securities licensing test required by FINRA is the Series 7 examination. Member firms who are part of the solicitation of securities which are not managed by other parties. If a representative only solicits securities such as mutual funds and variable annuities which are managed elsewhere, a Series 6 and Series 63 combined would fulfill the licensing requirements in that situation. The Series 7 licenses a representative or broker to solicit the sale of individual securities, such as stocks and bonds, as well as options, derivatives, and private placement. The only securities that a Series 7 does not license an individual to solicit are commodities futures, which require a Series 3. Continue reading...
Chapter 7 is a type of bankruptcy filing that allows an individual to liquidate enough assets to repay their debts and to then be free and clear of debt obligations. This can help get a credit rating back on track sooner than another type of filing such as Chapter 13. Chapter 7 is for people with incomes below their state’s median income. By liquidating enough assets to pay off creditors, a debtor can use Chapter 7 to take care of all debts at once, or to have some of the debts forgiven if the debtor does not have adequate assets for liquidation. Continue reading...
Chapter 13 bankruptcy is one of the most often used. It is similar to a Chapter 7, but it does not have income limits. It involves liquidating the assets of the debtor and making payment arrangements over a longer period of time than Chapter 7. Chapter 13 allows a debtor to propose a schedule for repaying debts that seems reasonable to the bankruptcy judge. It is for individuals who can prove steady income. Often Chapter 7 is filed by people who are impoverished, while Chapter 13 is the middle-to-upper class equivalent. Continue reading...
A bankruptcy trustee is appointed to oversee the liquidation of a debtor’s estate. A bankruptcy trustee has an obligation to do all he or she can to maximize the amount that a bankrupt entity’s estate can pay to the debtor’s unsecured creditors. The trustee must also challenge the claims of a creditor where appropriate. The estate is constituted of all of the bankrupt entity’s nonexempt assets. The trustee will oversee the “341” meeting, in the case of Chapter 7 bankruptcy. Continue reading...
Commodities Futures are one of the most highly traded securities in the world, and it is partially because nothing has to be delivered by the participants as in a spot-trading market. Futures can be purchased on margin, opening up large positions, long or short, and if a trader finds a place to exit before the settlement date of the contract, the trader will buy/sell to close his or her position, and the exchange will regard the trader’s position as flat, and nonexistent for all intents and purposes. Continue reading...
Chapter 15 bankruptcy is a newer type of bankruptcy filing that has only been around since 2005. It allows foreign companies access to the US bankruptcy court system in certain circumstances. This is part of the US’s compliance with international trade laws. Part of the aim of bankruptcy law is to preserve employment and protect investment. In an increasingly globalized economy it is understandable that the US could offer hearings to corporations which straddle national borders but are not based in the US. Continue reading...
Dive into the week of June 3-7, 2024, as we dissect the intertwined forces of global markets. From tech surges and commodity spikes to cryptocurrency resilience, uncover how economic and political events shaped financial dynamics and investor reactions across various sectors. Continue reading...
Discover how advanced AI trading robots utilize Technical and Fundamental Analysis to enhance your trading strategies. Learn about key indicators, strategy implementation, and the benefits of combining different approaches to maximize returns and minimize risks in the dynamic financial markets. Continue reading...
Explore a week of earnings reports! Discover how companies like GitLab and Bath & Body Works are navigating challenges and seizing opportunities in the dynamic financial landscape of June 3-7, 2024. Continue reading...
Discover how Price Action Correlation Models can enhance your trading by leveraging sector-based stock movements. Learn about their implementation, advantages, and successful applications to boost your decision-making and achieve impressive returns Continue reading...
Fund managers are allowed to accept up to 35 non-accredited investors, but for the most part you will either need to satisfy the “accredited investor” requirement of the SEC to invest directly in a hedge fund. Otherwise, there are now hedge fund indexes and ETFs that track and mimic hedge fund strategies that are accessible to everyone. You should know now that the minimum initial investment requirement to participate in a hedge fund can be quite large, such as upwards of $1 million. Continue reading...
IRS Link to Form — Found Here Sources of retirement plan income, such as pensions, annuities, and IRAs, will be associated with a 1099-R filing. The form is filed by the company making the distribution. The taxpayer uses the information on it for when filing income taxes. The IRS receives Form 1099-R from the companies making distributions from retirement plans. They have categorized all annuity contracts as retirement plans by default, so those are included, as are pensions, profit sharing plans, other forms of employer-sponsored retirement plans, cash-value life insurance distributions, and individual retirement accounts (IRAs). The company making the distribution sends the 1099-R to the IRS and the account owner. Continue reading...
To ensure that the financial industry in the United States adheres to strict rules and operates fairly, the Financial Industry Regulatory Authority (FINRA) plays a pivotal role. In this article, we will delve into the definition, functions, and importance of FINRA in the financial world. he Financial Industry Regulatory Authority, commonly referred to as FINRA, is an independent, non-governmental organization tasked with creating and enforcing regulations for registered brokers and broker-dealer firms within the United States. Continue reading...
Unlock your investing potential with Tickeron's Stock Screener! Explore top picks in entertainment, gaming, petroleum, and more. Dive into personalized learning with our expert-guided lessons and master the essentials of AI trading tools to revolutionize your portfolio. Continue reading...
Solvency ratios come in several flavors, but they all seek to shed light on a company’s ability to pay its long-term debt obligations. There are several types of what is known as solvency ratios. Some examples of solvency ratios include debt-to-equity, debt-to-assets, interest-coverage ratio, the quick ratio, the current ratio, and so forth. These are meant to be metrics for a company’s ability to meet its debt obligations through various market conditions. The quick ratio, for instance, can reveal whether the current-year liabilities (payables) of a company are covered by the current year cash and receivables, or whether the company will depend on other sources such as inventory liquidation to meet this need. Continue reading...
Want to trade like the pros? Dive into our definitive guide on the top 15 rules for trading success. From strategic insights to mastering the psychological game, discover the keys to navigating the financial markets with precision and confidence. Your trading evolution starts here! Continue reading...
Discover our curated selection of stocks across multiple sectors, including Dollar Tree, Lululemon, GameStop, Campbell Soup, Ciena, NIO, and JM Smucker, providing a snapshot of potential investment opportunities in retail, food, technology, and automotive industries. Continue reading...
Explore top companies from diverse industries: Walt Disney in entertainment, CVS Health in healthcare, Honda in motor vehicles, Hilton in hospitality, Occidental Petroleum in oil & gas, Sony in electronics, and Eli Lilly in pharmaceuticals. Discover their market impact and industry significance. Continue reading...
Explore the world of cryptocurrency trading and discover how bots are transforming the game. From speed and efficiency to various types and operational insights, find out how these digital assistants can aid your crypto investment journey. But beware of the pitfalls too! #CryptoBots Continue reading...