Series 63: Chapter 4

Chapter 4

Regulation of Agents of Broker-Dealers and Agents of Issuers

If you took the SAT in high school or any number of graduate school exams, one thing is certain – you’re familiar with the “analogy” question. These were the questions that would ask you something like “shoes are to feet as glove is to _________” (“hand” is the answer, in case you were stumped). Well, in an attempt to permanently solidify in your mind what an agent is, the use of an analogy may do the trick. So, here goes:

Investment adviser representative is to investment adviser as agent is to broker-dealer or