Regulation of Sales Representatives (Agents) - Registration Requirements

Initial Registration

  1. Initial registration for an agent is very simple: if a person or an entity fits the definition of an agent, he/she/it must register as an agent via the broker-dealer.
     
  2. In addition, the USA mentions that both the agent and the broker-dealer are to notify the Administrator of new employment.

Update

  1. If an agent has any material change in vital information (e.g. address) at any time, both he/she and the broker-dealer must notify the Administrator.

Post Registration Requirements

Renewal
An agent's broker-dealer usually pays annual renewal fees.

Termination

  1. If an agent's affiliation with a broker-dealer is terminated at any time, either by the agent or by the broker-dealer, both parties are to notify the Administrator.
     
  2. An agent's registration is active only as long as he or she is affiliated with a broker-dealer.
Introduction


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