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← Series 63: Regulation of Broker-Dealers & Agents
Series 63 practice questionmediumAgent Registration — Dual Registration

For a licensing checkpoint quiz, treat the following as the opening fact pattern. Assume all filings and notices are evaluated under the USA. 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?

  1. AJane may represent both firms without any additional registration, provided both firms consent
  2. BJane must register separately with the state as an agent of Broker-Dealer B, with written consent from both firms✓ Correct answer
  3. CDual registration is prohibited under the Uniform Securities Act
  4. 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. The extra setup is just noise; the controlling state-law rule stays the same.

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