Series 54: Indirect Enforcement Through Underwriters

Taken from our Series 54 Online Guide

Indirect Enforcement Through Underwriters

Because of concern that the above would infringe on states’ rights, the Tower Amendment was included in the Securities Acts Amendments to ensure that the MSRB and the SEC would not have would not have direct authority over issuers of municipal securities.

In order to get around this rule and impose some indirect regulation on issuers, Rule 15c2-12 was adopted by the SEC in 1989. This rule prevents municipal securities dealers from selling municipal securities unless the issuers have ag

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The Solomon material was invaluable in helping me pass this exam. The organization of the content, the tests, the video and lecture material, were all exactly on point. Thank you! (Series 54)

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I am still so giddy that I passed my Series 7 on 1/31. I truly cannot believe it. I took the 7 three times in 2019 utilizing Kaplan study materials and didn't feel good going into the tests any of the times. So shockingly I failed all three times by a lot. My highest score was a 68%. I used Solomon for my 51 in September (passed on the first try) so I thought I could try it for my 7 even though it is the hardest securities test I have taken. I felt so good going into the testing center and I passed!!! I am so grateful to have found your materials. They have been incredibly helpful and I am able to understand all the material covered in the books. I still am in shock that I passed. Now off to the 24!

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