The agent of a broker-dealer is someone who is paid to sell securities on behalf of the broker-dealer. A broker-dealer is an individual or firm in the business of buying and selling securities for its account or its customers.
What is a U4 form?
The Form U4 (Uniform Application for Securities Industry Registration or Transfer) is used to establish that registration. FINRA, other self-regulatory organizations (SROs) and jurisdictions use the Form U4 to elicit employment history, disciplinary and other information about individuals to register them.
Are brokers agents?
Brokers are real estate agents who have completed additional training and licensing requirements. They can work independently and hire other real estate agents to work for them.
Do brokers act as agents?
A brokerage acts as a broker (or agent) when it executes orders on behalf of its clients, whereas it acts as a dealer, or principal when it trades for its own account.
Who files a U4?
Form U4 is the Uniform Application for Securities Industry Registration or Transfer. Representatives of broker-dealers, investment advisers, or issuers of securities must fill out the Form U4 to become registered in the appropriate jurisdictions and/or SROs.
What is a compromise with creditors?
For example, if you established a payment plan with a creditor to pay off the debt over time, or if the creditor agreed to accept less than the full amount owed, that would be considered a “compromise with creditors.”
What’s the difference between broker and agent?
In real estate, an agent is an individual who is licensed to sell property in their state. A broker is someone who is licensed to own their own real estate firm.
Who is the agent?
An agent, in legal terminology, is a person who has been legally empowered to act on behalf of another person or an entity. An agent may be employed to represent a client in negotiations and other dealings with third parties. The person represented by the agent in these scenarios is called the principal.
What is a U5 FINRA?
The Form U5 is the Uniform Termination Notice for Securities Industry Registration. Broker-dealers, investment advisers, or issuers of securities must use this form to terminate the registration of an individual in the appropriate jurisdictions and/or self- regulatory organizations (“SROs”).
Is U4 public?
However, once a securities regulator has approved a Form U4 filing, this will become a public record accessible via the Investment Adviser Public Disclosure (“IAPD”) website.
Who may enter into a compromise?
The proposal for compromise can only be adopted at the meeting of creditors if supported by a majority representing at least 75 per cent in value of the creditors or relevant class of creditors. The creditors can vote in person or by proxy.
What is statutory disqualification finra?
Statutory disqualification is a status that denotes that the individual may be subject to disqualification under Article III, Section 4 of the FINRA By-Laws and/or parallel provisions in the Securities Exchange Act of 1934. See also FINRA’s Statutory Disqualification Process website for SD Tier information.
