A registered representative, also called a general securities representative, a

stockbroker A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks an ...

, or an account executive, is an individual who is licensed to sell

securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

and has the legal power of an

agent Agent may refer to: Espionage, investigation, and law *, spies or intelligence officers * Law of agency, laws involving a person authorized to act on behalf of another ** Agent of record, a person with a contractual agreement with an insuranc ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. Registered representatives usually work for

broker/dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and ...

s licensed by the

U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

(SEC) and the

Self Regulatory Organization A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to governmen ...

s (SRO) of the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

(NYSE) and

Financial Industry Regulatory Authority The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associati ...

(FINRA). To become a registered representative in the United States, one must be sponsored by a

firm and must pass the FINRA-administered

Series 7 Series 7 may refer to: *The seventh season of any of many shows or series; see and *Series 7 exam, officially the General Securities Representative Exam, the most comprehensive financial securities exam offered by the FINRA *'' Series 7: The Conte ...

examination (known as the General Securities Representative Exam) or another Limited Representative Qualifications Exam. Some state laws and broker/dealer policies also require the

Series 63 The Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by North American Securities Administrators Association (NASAA) and is administered by the Financial Industry Regulatory Authority (FINRA). The ...

examination (known as the Uniform Securities Agent State Law Exam). A registered representative ("RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs and variable annuities. Registered representatives who sell variable products such as variable annuities or

variable universal life insurance Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of ...

policies typically also must obtain the appropriate state insurance department license(s).

References

External links

* FINRA Registration and Examination Requirements
Series 7 Sponsorship Gateway
United States securities law {{US-law-stub

See also

References

External links