Series 63: The Registration Process

The Registration Process

To register as an agent, a sponsoring broker-dealer or issuer must use the Central Depository Registration system to file a Form U-4 and the individual must pass whatever exams are required for the types of securities he or she will be selling. Additionally, potential agents must pass a background check that looks for previous criminal as well as regulatory violations. The applicant must file a “ consent to service of process,” which allows a state administrator to receive legal papers (summons, notice of lawsuits, etc.) on behalf of the agent. As part of a broker-dealer’s state registration, the broker-dealer must also file a “consent to service of process,” which allows a state administrator to receive legal papers (summons, notice of lawsuits, etc.) on