When is the Securities and Exchange Disclaimer mandated to be shown?

a. Listed securities require prospectus delivery within 90 days of the offering, nonlisted securities within 25 days, and non-NASDAQ securities within 40 days.

b. Listed securities require prospectus delivery within 25 days of the offering, nonlisted securities within 90 days, and non-NASDAQ securities within 40 days.

c. Listed securities require prospectus delivery within 40 days of the offering, nonlisted securities within 25 days, and non-NASDAQ securities within 90 days.

d. Listed securities require prospectus delivery within 40 days of the offering, nonlisted securities within 90 days, and non-NASDAQ securities within 25 days.

The SEC mandates prospectus delivery for listed securities within 25 days, nonlisted within 90 days, and non-NASDAQ securities within 40 days to ensure investor protection and transparency. The correct answer to the question is option c)

Explanation:

The requirement for the dissemination of a prospectus related to the sale of securities is mandated by regulations set forth by the Securities and Exchange Commission (SEC). This requirement is part of a broader framework established to ensure transparency and protect investors from malpractices in the securities markets. The correct timing for prospectus delivery depends on the classification of the securities.

For listed securities, a prospectus must be delivered within 25 days of the offering. In the case of nonlisted securities, the period extends to 90 days, and for non-NASDAQ securities, the requirement is set at 40 days. This tiered approach reflects the SEC's comprehensive strategy to regulate and oversee different segments of the securities market effectively, ensuring that investors have access to critical information in a timely manner.