Registration of Securities

Just as with investment advisers, agents, and the other professionals discussed so far, securities must be registered with the state securities administrator and a fee must be paid. Just like these other parties as well, securities are also potentially exempt from state registration if they are registered at a federal level or meet one of the exemptions outlined in the Uniform Securities Act (more on these in a bit).

The actual registration of a security doesn’t have to be handled by the issuer. In fact, most times they’re handled by an underwriter or broker-dealer who has been hired by the issuer.