Series 7: 15.3.3.2.2 Rule 203—Locate And Delivery Requirements For Short Sales

Taken from our Series 7 Top-off Online Guide

15.3.3.2.2 Rule 203—Locate and Delivery Requirements for Short Sales

Rule 203 states that before a broker-dealer can execute a short sale, it must locate the securities that will be borrowed to cover the short sale. In this context, “locate” means one of the following:

• The securities have already been borrowed or there is a bona fide agreement to borrow the securities.
• The broker-dealer has “reasonable grounds” to believe that the

+ Read More

More Series 7 Info

What are people saying?

Create an Account

Since you're reading about Series 7: 15.3.3.2.2 Rule 203—Locate And Delivery Requirements For Short Sales, you might also be interested in:

Series 79 - 2.6. Organizational Structures

SIE - 8.6.4. Fair Prices and Commissions

Series 7 - 3.3.2.2.3. Formulating the Bid: Bid Form and Issuer’s Acceptance

Series 27 - Extending Credit and Regulation T

Series 50 - Contributors

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

Just passed my Series 7 using Solomon Exam Prep! Have used Solomon for my Series 79 as well. Both study programs are excellent and felt well prepared sitting for my exams. Would recommend to others in the industry.

Natasha Trilli, Ocean Park. Houston, TX

Thanks to Solomon I was able to pass the SIE, Series 7, and Series 63, great study material if you put the hours in!

Xavier Mata, Cabrera Capital Markets. Chicago, IL

I have taken and passed the SIE, Series 7, and Series 66 using this amazing Solomon study program. Each time, I felt prepared for the exam and confident in my answers. Solomon's study structure and varying mediums of study make it interactive and easy to learn.. It's an amazing deal for the tools received. I would highly recommend this program!

Abbigayle Hanoch, LPL Financial. Ventura, NM

Thank you...thank you. I took my Series 7 yesterday and passed....1st try. Read the whole book 3 times. My system was to go through and answer the questions I was positive about. Good guess at the others and park them for review. The hardest part is trying to understand what they are actually asking. This way I wasn’t bogged down and stressed being stuck on a question. Second time around go through all those parked questions...digging deeper...checking my calculations etc. again parking the ones that totally stumped me. Third time around....educated guesses and what seemed to make sense. Also, on my way there, I was picturing myself in the room....sitting at the computer (yes, I took a dry run to see the inside). It took that part of the unknown out of the equation. Be prepared for the masks and Covid precautions. Any options questions, as tricky as they make them, I would look at my charts and was able to make sense of what they were asking. Finished the test in record time. Being prepared gave me the confidence to get through it. Many thanks Lorraine

Lorraine Harrod, PNC, Lewes, DE

I passed the S7 TO first time it was introduced from last year. I have used several books and none of them could be as complete as this one. I am a living witness to the completeness of your course material. If that was not the case, I would not have passed this very difficult exam. I owe my success to your exam materials and no other book, from those I know have come close. I am going to study for the Series 66 through Solomon Exam Prep. If this can help me through, then I am sure many more people would also succeed.

Stalin Miki, Bankerslife, Miami, FL

Solomon is the BEST!!! Passed the Series 7 on the first try. The lessons are videos and lessons are good. The practice exams are EXCELLENT. Focus on options and muni's. Load up on practice exams and you will be fine. Thank you Solomon!!!

Brandon Collins, Benchmark. Memphis, TN