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Sales Load 
   The amount added to the net asset value of a mutual fund share to arrive at the offering price.

Self-Regulatory Organization (SRO) 
   One of the eight organizations accountable to the SEC for the enforcement of federal securities laws and the supervision of securities practices within an assigned field of jurisdiction.

Selling Away 
   An associated person engaging in private securities transactions without the knowledge and consent of the employing broker-dealer.

Speculation 
   Trading a commodity or security with a higher than average risk in return for a higher than average profit potential.

Suitability 
   A determination made by a registered representative as to whether a particular security matches a customer’s objectives and financial capability.

Supervision 
   A system implemented by a broker-dealer to ensure that its employees and associated persons comply with the applicable rules and regulations of the SEC, the exchanges and the SROs.