Agent Conduct Requirements
Chapters in this video
- 0:00 Agent switches firms: three parties must notify Stan
- 1:06 Who reports what: old firm, new firm, and the agent
- 3:06 Canadian broker-dealer agent registration pathway
- 4:12 Forthwith reporting: criminal action and fraud findings
- 5:45 The antifraud exemption that never applies
- 6:59 Rapid-fire exam recap
What this video covers
- The three separate notification obligations when an agent begins or terminates employment: agent, old employer, and new employer
- What each party specifically reports: the old firm reports termination, the new firm reports the new association, and the agent reports the entire change
- Why failure by any single party to provide prompt notification is a direct violation of the Uniform Securities Act (USA)
- The limited registration pathway for Canadian broker-dealer agents, including the home-jurisdiction application form and consent to service of process
- What "forthwith" means in the context of Canadian agent reporting obligations, and the two events that trigger immediate disclosure to the Administrator
- The scope of Canadian agent exemptions from USA requirements, and the single provision from which no agent is ever exempt
- Why the Administrator's authority to deny, suspend, or revoke Canadian agent registration is limited to antifraud violations and breaches of the Canadian broker-dealer pathway requirements
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. When you're ready to drill the topic, the full Series 63 course adds adaptive practice questions and spaced-repetition flashcards.