Regulation of Sales Representatives (Agents) - Registration Requirements
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.
- In addition, the USA mentions that both the agent and the broker-dealer are to notify the Administrator of new employment.
- 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
An agent's broker-dealer usually pays annual renewal fees.
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.
- An agent's registration is active only as long as he or she is affiliated with a broker-dealer.
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