Exercise
Answer true or false
- 1. True or false. Partners, officers, and directors of a broker-dealer must always register as agents of a broker-dealer.
- 2. True or false. Clerical staff members are always exempt from agent registration requirements.
- 3. True or false. Agents are not required to meet net capital requirements.
Fill in the blank
- 4. _ is the form which must be filed by a sponsoring broker-dealer or issuer before an agent can be registered.
- 5. _ is the form that is filed by a broker-dealer in order to terminate an agent’s registration.
Answers
- 1. False. Unlike in the case of registration of investment adviser representatives, partners, officers, and directors of broker-dealers are not required to register as agents in all cases. It is only when they begin performing the tasks of an agent (i.e., helping to effect securities transactions) that they are require