Series 52: Close-out Notice

Taken from our MSRB Municipal Securities Representative Qualification Examination

Definition of the term Close-out Notice...

written notice sent by a securities purchaser to the seller of those securities in the case of an order being closed out. The notice must contain the name and address of the broker-dealer originating the notice and the broker-dealer designated to receive the notice; as well as certain transaction information, including its par value, price of securities, the dollar amount of the transaction, and the trade and settlement dates.

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Solomon Exam Prep Study Materials for the Series 52
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