Broker Dealer Registered Representative Agreement

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FINRA Rule 2210 prohibits brokerage firms and brokers registered with FINRA from misleadingly referring to legitimate grades or denominations or referring to non-existent or self-awarded grades/denominations. The FINRA page for understanding professional designations helps you learn more about professional titles in general, while FINRA`s senior designs page helps you learn more about designations related to older investors. FINRA Rule 5130 generally prohibits you from buying a new issue (IPO or IPO of a stock value) or selling a new issue to “restricted persons”, including other brokers and their employees, as well as portfolio managers, discoverers and persons acting as trustees for the underwriter manager. As a registered representative, whether you are an employee or an “independent contractor” (there is no difference between the two terms for regulatory purposes), you are required to comply with all applicable securities laws and regulations. FINRA Rule 3210 requires that a registered representative may obtain the prior written consent of the member company with which he or she is registered (the member who employs him)before opening an account in which securities transactions may take place and in which the registered person has an economic interest, with another member company (the executive member) or another financial institution. The registered representative must also inform the executive member or any other financial institution in writing of his or her relationship with the member who employs him.` In return, the executive member shall be required, at the written request of the member who employs him, to transmit to the employer of the registered representative duplicate copies and declarations of his accounts, including all accounts in which he has an economic interest. It is considered that a registered representative has an economic interest in an account: which is held by: As a registered representative, your work-related documents, such as correspondence with customers, new account forms and copies of customer extracts and customer complaints, must be held by your company in accordance with FINRA Rule 4510 and other rules (for example. B FINRA Rules 4511, 4512, 4513, 4514 and 4515). Regardless of the name of the incoming envelope, these documents are also the property of the company. FINRA Rule 2210 also requires that each website of a company will contain an easily recognizable reference and link to BrokerCheck on the original website that the company wishes to consult with retail investors and any other website containing a professional profile of one or more registered persons doing business with retail investors. FINRA considers websites managed by registered representatives and which advertise the activity of their company to be company websites.

For more information on the requirements, please visit the brokerCheck link compliance page. You can only carry out a securities activity as an agent under the direct control of your company. You may not participate in private securities transactions (e.g.B. securities transactions outside your company), unless you obtain prior written authorization in accordance with FINRA Rule 3280. As a result, you should discuss with your supervisor any securities transactions you wish to make outside of the broker with which you are currently registered. You are responsible for ensuring that all updates to your U4 form are correct and on time and are made available to your company. FINRA`s articles of association also require companies to submit a Form U5 to the company within 30 days of your termination and provide you with a copy of the filing. If the company learns of facts or circumstances that make the previously filed U5 unclear or incomplete, the company is required to amend the filing at that time and provide you with a copy. . .


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