Agent Regulation: Rapid Fire

What this video covers

• Why an agent is always a natural person (individual), never an entity, and how to eliminate answer choices that call a corporation or partnership an agent
• The difference between an agent (effecting or attempting to effect securities transactions) and an investment adviser representative (IAR) who only gives advice
• Why mere solicitation triggers agent status even when no trade closes, and how attempting to effect a transaction counts just as much as completing one
• When partners, officers, or directors of a broker-dealer (BD) or issuer become agents (only upon solicitation or execution), and why BD registration automatically covers them without a separate filing
• How Form U4 works through the Central Registration Depository (CRD), what full disclosure entails, and why the Uniform Securities Act (USA) application requirement is narrower than the Financial Industry Regulatory Authority (FINRA)/CRD form
• The three-way notice rule on transfer: agent, old employer, and new employer all must promptly notify the Administrator
• Why Form U5 is filed by the employer not the agent, the employer-specific nature of registration, the December 31st expiration, and the 30-day-at-noon default effective date with its acceleration and deferment possibilities