Registration Requirements
Chapters in this video
- 0:00 Adam the Agent and the backstage pass rule
- 1:37 The four registration hurdles, starting with Form U4
- 2:48 Who files Form U4, and the 30-day noon effective date
- 3:36 Consent to service of process is irrevocable
- 4:11 Automatic registration for partners, officers, and directors
- 4:41 Registration parked the instant you leave the firm
- 5:50 December 31 expiration and the 1-year withdrawal window
- 6:19 Form U5 and the strict 30-day termination deadline
- 7:06 CRD versus EDGAR, and who files both U4 and U5
- 8:32 Rapid-fire exam recap
What this video covers
- Why Form U4 (Uniform Application for Securities Industry Registration or Transfer) is filed by the sponsoring broker-dealer or issuer, not by the agent directly, and what events must be disclosed
- When registration becomes effective, specifically noon on the 30th day after filing, and what happens if the Administrator accelerates or defers that date
- Why consent to service of process is irrevocable, and why it survives even after the agent leaves the state or the industry entirely
- How an agent's registration is parked, instantly becoming ineffective the moment association with the broker-dealer or issuer ends, with zero grace period
- Why registration expires each December 31 unless renewed, and what happens to an agent's regulatory exposure during the 1-year window after a clean withdrawal
- When a partner, officer, or director of a broker-dealer is automatically registered without a separate Form U4
- How Form U5 (Uniform Termination Notice for Securities Industry Registration) differs from Form U4 in purpose, filing party, and the hard 30-day deadline versus the prompt update rule
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