Activities Requiring Agent Registration

What this video covers

• The dual obligation under the Uniform Securities Act (USA): why both the agent and the broker-dealer (BD) face liability when an unregistered agent transacts business
• Why there is no such thing as a free-floating agent registration, and what happens the exact moment an agent leaves a firm
• The three parties who must promptly notify the Administrator when an agent begins or terminates employment with a broker-dealer or issuer
• The conditions for dual registration with multiple broker-dealers, and why consent from every involved firm is mandatory
• How the no-place-of-business exclusion for firms affects agent registration, and why an agent gets zero independent relief or de minimis exclusion
• The critical distinction between the institutional-client-only prong and the snowbird prong, and why one retail customer destroys the former but not the latter
• The difference between firm-level registration exclusions (agent still defined as an agent, just unregistered in that state) and agent-definition exclusions (person is not an agent at all)