Under the Uniform Securities Act, a structured security issued by an investment bank is a(n):
Non Exempt Security
Explanation:
Uniform Securities Act is such an act that provide assistance in the law enforcement and regulation to the Securities and Exchange Commission of the United States of America.
Under this act, a structured security issued by an investment bank is a non exempt security and these securities remain non-exempt under both federal law and state law.
A structured security is basically similar to the investments like bonds which are not backed by the physical asset. They are backed by the promise of the issuing bank.
