Q:
When an agent of a broker-dealer begins employment with another broker-dealer, who is responsible for notifying the state administrator of the change?
A) The agent
B) The prior employer
C) The new employer
D)
A:
The correct answer is D).
When an agent moves from one broker-dealer's employ to another, all parties are responsible for notifying the state administrator of the change.

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RELATED FAQS

  1. If a sales representative moves from one broker-dealer to another ...

    The correct answer is b. I, II and III are correct since all parties are required to notify the Administrator.
  2. ABC Broker-dealer has no office in state and transacts fewer than five trades during ...

    The correct answer is b. Under these circumstances, the broker-dealer is not required to register with the state and the ...
  3. Under the Uniform Securities Act, registration with the Administrator as an investment ...

    The correct answer is c. I is incorrect, since broker-dealers or their agents who don’t receive a fee for making investment ...
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    The correct answer is c). This would be considered a private securities transaction, which is not permitted. All securities ...
  5. Under the Uniform Securities Act, the Administrator of California may examine the ...

    The correct answer is a. The Administrator has jurisdiction over investment advisers, broker-dealers and sales representatives ...
  6. A sales representative or broker-dealer that violates the Uniform Securities Act ...

    The correct answer is a. The sales representative or broker-dealer is required to pay interest, court and attorney’s fees ...
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