United States (US) Government Agency Issues – Securities issued by agencies of the United States (US) Government such as Government National Mortgage Association (GNMA). These securities are not required to register per the Securities Act of 1933.

Underwriter – An institution that helps an issuer of new securities settle and market the offering of the new security to the public.

Underwriting Agreement – A formal written agreement between the issuer and underwriter that includes details of the new issue and the selling provisions of the security to the public.

Uniform Securities Act – Also known as the Blue Sky laws. The Uniform Securities Act requires the registration of securities, broker/dealers, and employees of broker/dealers in the state.

Unit Investment Trust – An investment company organized as a trust designed to provide capital appreciation and/or dividend income and offers a fixed, unmanaged portfolio of stocks and bonds, as redeemable “units” to investors for a specific period of time.