Registered representative (securities): Difference between revisions

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

Registered representatives usually work for broker-dealers licensed by the Securities Exchange Commission (SEC) and the 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 the Financial Industry Regulatory Authority (FINRA).^{[citation needed]}

To become a registered representative, one must be sponsored by a broker-dealer firm and pass the FINRA-administered Series 7 examination or another Limited Representative Qualifications Exam. Some state laws and broker-dealer policies require the Series 63 examination to be passed, as well.^{[citation needed]}

A registered representative (or simply "RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, mutual funds, variable annuities, etc. and should not be confused with the more narrowly licensed Financial Services Representative, who is licensed by passing the FINRA series 6 securities exam. The Series 6 permits the "rep" to sell only mutual funds and variable annuity contracts. Variable products such as variable annuities or variable universal life insurance policies typically also require reps obtain the appropriate state insurance department license(s) required for such variable
List of Securities Examinations

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-A '''Registered Representative''', also called a General Securities Representative, a [[Stock Broker]], or an Account Executive, is an individual who is licensed to sell [[securities]] and has the legal power of an [[agent (law)|agent]].
+A '''registered representative''', also called a general securities representative, a [[stock broker]], or an account executive, is an individual who is licensed to sell [[securities]] and has the legal power of an [[agent (law)|agent]].
-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 [[National Association of Securities Dealers]] (NASD).  Recently the enforcement arm of the [[NYSE]] and NASD have combined to be known as the [[Financial Industry Regulatory Authority]] (FINRA).{{Fact|date=November 2007}}
+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 [[National Association of Securities Dealers]] (NASD).  Recently the enforcement arm of the [[NYSE]] and NASD have combined to be known as the [[Financial Industry Regulatory Authority]] (FINRA).{{Fact|date=November 2007}}
-To become a Registered Representative, one must be sponsored by a [[broker-dealer]] firm and pass the FINRA-administered [[General Securities Representative Exam|Series 7]] examination or another Limited Representative Qualifications Exam.  Some state laws and broker-dealer policies require the [[Uniform Securities Agent State Law Exam|Series 63]] examination to be passed, as well.{{Fact|date=November 2007}}
+To become a registered representative, one must be sponsored by a [[broker-dealer]] firm and pass the FINRA-administered [[General Securities Representative Exam|Series 7]] examination or another Limited Representative Qualifications Exam.  Some state laws and broker-dealer policies require the [[Uniform Securities Agent State Law Exam|Series 63]] examination to be passed, as well.{{Fact|date=November 2007}}
 ==See also==
-* A Registered Representative (or simply "RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, mutual funds, 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.  Variable products such as variable annuities or [[variable universal life insurance]] policies typically also require reps obtain the appropriate state insurance department license(s) required for such variable
+* A registered representative (or simply "RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, mutual funds, 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.  Variable products such as variable annuities or [[variable universal life insurance]] policies typically also require reps obtain the appropriate state insurance department license(s) required for such variable
 * [[List of Securities Examinations]]