Persons Exempt from Registration

What this video covers

• Why the "solely and exclusively" qualifier makes the clerical carve-out strictly binary, with no partial credit for mostly clerical staff
• What activities FINRA treats as order acceptance: taking details, confirming parameters, discussing whether to enter, or routing to the trading desk
• The three mandatory elements of the narrow safe harbor: occasional frequency, pure transcription by the unregistered person, and registered-person confirmation with the customer before entry
• Why a daily routine of transcription plus confirmation fails the safe harbor even when both steps are followed, since "occasional" is qualitative not just procedural
• Whether an unregistered exempt employee may receive salary, hourly wages, or discretionary bonuses versus transaction-based compensation of any kind
• Why indirect transaction structures, such as team bonuses tied to desk commissions, still violate the compensation prohibition for exempt persons
• How to spot exam fact patterns where an unregistered assistant answers a customer call and the scenario is designed to look harmless but is actually a violation