The Supervisory System

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Chapters in this video

  1. 0:00 Why "reasonably designed" beats perfection
  2. 1:46 WSPs, supervisor assignment, and no delegation
  3. 2:59 Matching principal licenses to business lines
  4. 3:40 New account approval and the OSJ trigger
  5. 4:44 Riley's yurt and the 30-business-day rule
  6. 5:36 Rapid-fire exam recap

What this video covers

  • Why "reasonably designed" is the standard for a supervisory system, and why a firm with a rogue rep can still be in compliance
  • The three required pieces of every supervisory system: written supervisory procedures (WSPs), designation of supervisory personnel, and assignment of each registered person to a registered supervisor
  • Why supervisory duties cannot be delegated to unregistered persons, no matter how capable the assistant
  • Which principal license maps to which business: Series 24, Series 4, Series 9/10, and Series 53
  • What makes a location an Office of Supervisory Jurisdiction (OSJ), with new account approval as the differentiator the exam loves
  • The square-in-a-rectangle relationship: every OSJ is a branch office, but not every branch office is an OSJ
  • The 30-business-day rule and other exemptions (primary residences, back offices, offices of convenience, business continuity sites) that keep a location off the branch registration list

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 7 course adds adaptive practice questions and spaced-repetition flashcards.

Read the Free Lesson → free · no signup wall