Agents Representing Broker-Dealers
Agents representing broker-dealers do not have to register with the state if:
- • They have no place of business in the state and their only clients are institutional investors.
- • They are registered in State A and have an existing client who is on vacation in State B (up to 30 days); the customer must be a client who has had an account with the broker-dealer for 30 days prior to the transaction.
- • They have an existing client who is moving to another state (must register within 10 days of learning of the move).
- • They work for a Canadian broker-dealer that qualifies for the Canadian broker-dealer exemption as previously described, and they only conduct the types of transactions permitted under that exemption.
- • They work for a broker-dealer selling investments that are not securities, such as annuities, insurance, or commodities. Please note that non-securities are not the same as exempt securities and as a result will subject the agent to different registration
