Series 65: 8.10.4.2. Partners, Directors, And Managers Of Broker-Dealers

8.10.4.2. Partners, Directors, and Managers of Broker-Dealers

The Uniform Securities Act states that:

A partner, officer, or director of a broker-dealer or issuer, or a person occupying a similar status or performing similar functions, is an agent only if [that person] otherwise comes within this definition.

Explanation: If a partner, officer, or director of a firm does not effect securities transactions on behalf of the firm, then he is not an agent. If he does engage in agent acti