Series 24: Non-registered Persons

Taken from our Series 24 Online Guide

Non-registered Persons

Broker-dealers may not pay non-registered persons for soliciting customers on their behalf if any of these conditions apply:

  • The non-registered person is paid a percentage of the commission or income generated.
  • Payment for referrals is not made on an isolated basis.
  • Customers can transmit orders directly to the firm using the non-registered person’s facilities.

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