Registered representative (securities): Difference between revisions

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A registered representative, also called a general securities representative, a stockbroker, or an account executive, is an individual who is licensed to sell securities and has the legal power of an agent in the United States.

Registered representatives usually work for broker/dealers licensed by the U.S. Securities and Exchange Commission (SEC) and the Self Regulatory Organizations (SRO) of the New York Stock Exchange (NYSE) and Financial Industry Regulatory Authority (FINRA).

To become a registered representative in the United States, one must be sponsored by a broker/dealer firm and must pass the FINRA-administered Series 7 examination (known as the General Securities Representative Exam) or another Limited Representative Qualifications Exam. Some state laws and broker/dealer policies also require the Series 63 examination (known as the Uniform Securities Agent State Law Exam).^{[citation needed]} ^[1]

A registered representative ("RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs and variable annuities. Registered representatives who sell variable products such as variable annuities or variable universal life insurance policies typically also must obtain the appropriate state insurance department license(s).

References

^ "Series 7 License: Series 7 Exam Prep, Training & Study Materials".

External links

FINRA Registration and Examination Requirements Official website
Series 7 Sponsorship Gateway

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[1] "Series 7 License: Series 7 Exam Prep, Training & Study Materials".

[1]

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+{{Short description|Stockbroker}}
-A '''Registered Representative''', also called a General Securities Representative or an Account Executive, is an individual who is licensed to sell [[securities]] and has the legal power of an [[agent]].
+{{Refimprove|date=August 2012}}
+A '''registered representative''', also called a general securities representative, a [[stockbroker]], or an account executive, is an individual who is licensed to sell [[securities]] and has the legal power of an [[agent (law)|agent]] in the [[United States]].
-Registered Representatives usually work for [[broker-dealer]]s licensed by the [[Securities Exchange Commission]] (SEC) and the [[Self Regulatory Organization|Self Regulatory Organizations]] (SRO) of the [[New York Stock Exchange]] (NYSE) and [[National Association of Securities Dealers]] (NASD).  Recently the enforcement arm of the [[NYSE]] and [[NASD]] have combined to be known as as the [[Financial Industry Regulatory Authority]] (FINRA).  Passing the FINRA administered [[Series 7]] and [[Series 63]] examinations are required to become a Registered Representative.
+Registered representatives usually work for [[broker/dealer]]s licensed by the [[U.S. Securities and Exchange Commission]] (SEC) and the [[Self Regulatory Organization]]s (SRO) of the [[New York Stock Exchange]] (NYSE) and [[Financial Industry Regulatory Authority]] (FINRA).
+To become a registered representative in the United States, one must be sponsored by a [[broker/dealer]] firm and must pass the FINRA-administered [[General Securities Representative Exam|Series 7]] examination (known as the General Securities Representative Exam) or another Limited Representative Qualifications Exam. Some state laws and broker/dealer policies also require the [[Uniform Securities Agent State Law Exam|Series 63]] examination (known as the Uniform Securities Agent State Law Exam).{{Citation needed|date=November 2007}} <ref>{{cite web | url=http://www.abtrainingcenter.com/Series7.asp | title=Series 7 License: Series 7 Exam Prep, Training & Study Materials }}</ref>
+A registered representative ("RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs and variable annuities.  Registered representatives who sell variable products such as variable annuities or [[variable universal life insurance]] policies typically also must obtain the appropriate state insurance department license(s).
+==See also==
+* [[List of securities examinations]]
+* [[Stock selection criterion]]
+* [[Proper authority]], in Australia
+==References==
+{{reflist}}
+==External links==
+* FINRA Registration and Examination Requirements {{Official website|1=http://www.finra.org/industry/compliance/registration/qualificationsexams/registeredreps/p011051}}
+* [http://www.stonehengeresearchllc.com/home.php Series 7 Sponsorship Gateway]
 [[Category:United States securities law]]
 {{econ-stub}}
+{{US-law-stub}}