Activities Requiring Agent Registration

What this video covers

• Why both the agent and the employer are liable when an unregistered agent transacts business, and why the exam loves to hide the employer's liability
• Why there is no such thing as a free-floating agent registration, and the exact zero-day grace period when an agent leaves a firm
• The triple notification rule: which three parties must promptly notify the Administrator when an agent begins or terminates an association with a BD or issuer
• How dual registration works, why each BD must consent, and why termination from one BD does not affect registration with another
• The critical distinction between an agent-definition exclusion (removed from the definition entirely) and no-place-of-business relief (still an agent, but registration not required because the firm is excluded)
• Why an agent gets no independent de minimis or no-place-of-business exclusion, and how relief flows strictly from the firm's status
• The retail customer trigger: why soliciting even one non-institutional client destroys a firm's institutional exclusion and forces immediate registration