Agent Registration Requirements
Chapters in this video
- 0:00 No employer, no registration: the law on both sides
- 2:06 Form U4, Web CRD, and the disclosure traps
- 4:26 Net capital versus surety bonds for individual agents
- 5:55 Consent to service of process: irrevocable and permanent
- 6:31 The 30-day countdown and the noon effective date
- 7:26 December 31 renewals and automatic partner registration
- 8:24 Rapid-fire exam recap
What this video covers
- Why an agent registration is permanently tied to a specific employer and immediately becomes inactive upon termination
- The complete set of Form U4 disclosure requirements, including the 10-year employment history and the felony versus misdemeanor distinction in criminal history
- Why the Central Registration Depository (CRD) handles Form U4 filings and how EDGAR is a separate system for issuer reports
- Why individual agents have no net capital or net worth requirement, yet can still be forced to post a surety bond with custody or discretionary authority
- The irrevocable, permanent nature of consent to service of process and why it survives even complete departure from the industry
- The exact mechanics of the 30-day effective date rule at noon, and why "approved" is the wrong word on the exam
- The December 31 annual expiration deadline and the automatic registration exception for partners, officers, and directors of a new broker-dealer
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