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}}
-{{Unreferenced|date=January 2012}}
+{{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 of America]].
+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]]s (SRO) of the [[New York Stock Exchange]] (NYSE) and [[Financial Industry Regulatory Authority]] (FINRA).
+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, one must be sponsored by a [[broker/dealer]] firm and 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 [[Uniform Securities Agent State Law Exam|Series 63]] examination (known as the '''Uniform Securities Agent State Law Exam'''), as well.{{Citation needed|date=November 2007}} <ref>http://www.abtrainingcenter.com/Series7.asp</ref>
+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 (or simply "RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs, variable annuities, etc. and should not be confused with the more narrowly licensed '''financial services representative''', who is licensed by passing the FINRA [[Investment Company Products/Variable Life Contracts Representative Exam|series 6]] securities exam.  The Series 6 permits the "rep" to sell only mutual funds and [[variable annuity]] contracts.  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).
+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==
-{{reflist}}
 ==See also==
 * [[List of securities examinations]]
-* [[FINRA|FINRA Registration and Examination Requirements]] {{Official Website|1=http://www.finra.org/industry/compliance/registration/qualificationsexams/registeredreps/p011051}}
 * [[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}}
-[[ja:外務員 (金融商品)]]