Agent Exemptions and Obligations: Rapid Fire

What this video covers

• The critical difference between an exclusion (never an agent) and an exemption (agent, but relieved from registering), and why antifraud provisions apply to both
• When an issuer representative is excluded from the agent definition, including exempt securities, exempt transactions, federal covered securities, and employee sales with no commission or remuneration for soliciting
• Why any commission, finder's fee, or bonus per purchaser instantly destroys the employee exclusion and triggers registration requirements
• How broker-dealer representative exclusions are narrowly limited to purely clerical and ministerial activity with no transaction involvement
• Why registration is employer-specific with zero grace period, and the mandatory three-party notification flow when an agent changes firms
• The duty to file correcting amendments promptly for materially inaccurate filings, including felony charges before any conviction
• The two-prong test for Administrator discipline (public interest plus specific statutory ground), the non-punitive nature of cancellation, and the due-process exception of summary suspension