Series 63 practice questionmediumAgent Registration — Dual Registration
Agent Jane is currently registered with Broker-Dealer A in State X. She wants to also represent Broker-Dealer B in the same state. Which of the following is TRUE?
- AJane may represent both firms without any additional registration, provided both firms consent
- BJane must register separately with the state as an agent of Broker-Dealer B, with written consent from both firms✓ Correct answer
- CDual registration is prohibited under the Uniform Securities Act
- DJane must resign from Broker-Dealer A before she can register with Broker-Dealer B
Explanation
Why B — Jane must register separately with the state as an agent of Broker-Dealer B, with written consent from both firms
The USA does not prohibit dual registration, but an agent must be separately registered through each broker-dealer she represents. Both broker-dealers must provide written consent for the dual arrangement. Simply having one registration does not extend to work performed on behalf of another firm.
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