Isolated non-issuer transactions typically involve securities professionals?

• A. Yes
• B. No
• C. Sometimes
• D. Always

Answer: (B)

Isolated nonissuer transactions are one-off sales of a security by a person other than the issuer to another person, not part of a continuing distribution. Because there’s no ongoing marketing or capital-raising, these trades usually happen directly between private investors and don’t involve securities professionals. Involvement by a broker-dealer or registered representative would suggest a broader distribution or ongoing offering, which would move the transaction out of the isolated nonissuer category. So, these are typically not conducted through securities professionals.