Registered Representative

Registered Representative

A Registered Representative, also called a General Securities Representative, a Stock Broker, or an Account Executive, is an individual who is licensed to sell securities and has the legal power of an agent.

Registered Representatives usually work for broker-dealers licensed by the Securities Exchange Commission (SEC) and the Self Regulatory Organizations (SRO) of the New York Stock Exchange (NYSE) and National Association of Securities Dealers (NASD). Recently the enforcement arm of the NYSE and NASD have combined to be known as the Financial Industry Regulatory Authority (FINRA).[citation needed]

To become a Registered Representative, one must be sponsored by a broker-dealer firm and pass the FINRA-administered Series 7 examination or another Limited Representative Qualifications Exam. Some state laws and broker-dealer policies require the Series 63 examination to be passed, as well.[citation needed]

See also

  • A Registered Representative (or simply "RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, mutual funds, variable annuities, etc. and should not be confused with the more narrowly licensed Financial Services Representative, who is licensed by passing the FINRA series 6 securities exam. The Series 6 permits the "rep" to sell only mutual funds and variable annuity contracts. Variable products such as variable annuities or variable universal life insurance policies typically also require reps obtain the appropriate state insurance department license(s) required for such variable
  • List of Securities Examinations

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  • registered representative — A person who has met the qualifications set by law or regulations (of e.g. SEC and New York Stock Exchange) to sell securities to the public …   Black's law dictionary

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  • Registered Investment Advisor — Investment Advisor (IA) is a non formal designation describing a person or firm in the United States who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or… …   Wikipedia

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