Series 24: 1.2.3. Becoming A Registered Employee

Taken from our Series 24 Online Guide

1.2.3. Becoming a Registered Employee

All persons engaged in the broker-dealer securities business are subject by the Exchange Act to personal registration requirements under FINRA rules and must pass one or more qualifying exams. The SEC specifically bars broker-dealers from allowing any individual who is not properly registered from performing the duties of a registered employee. For eligible employees, registration is specific to a member firm, meaning that a change of employer to another broker-dealer requires an individual to amend his registration.

FINRA recognizes two broad categories of individuals for registration: representatives and principals. A principal is a person actively engaged in the management of the member’s investment banking

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