As part of a networking arrangement, a broker-dealer places registered representatives at a bank branch. Which of the following is a regulatory requirement for such an arrangement?

1. AFINRA must approve each representative’s physical location at the bank before operations begin.
2. BThe bank must register as a broker-dealer to permit securities transactions at the branch.
3. CA written agreement must be in place specifying the broker-dealer’s and bank’s responsibilities, and the broker-dealer is responsible for supervising its representatives' securities activities at the branch.✓ Correct answer
4. DAll bank employees at the branch must obtain Series 7 registrations.

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