Devoted to Corporate Attorneys, Corporate Lawyers, and Corporate Counsel

The following is not meant to be legal advice.

For those working at securities firms or broker-dealers, they may be interested to know the following issues that a representative runs into in everyday situations:

In advertising, there is detail in the business cards.  In California, every representative who sells life insurance or annuities has to have his/her license number on his/her business card.

If the firm deals with municipal securities, MSRB manuals should be in all hubs or registered branch offices.  This is required because the firm cannot comply with the rules if the firm does not know what the rules are, or does not have access to a manual. 

With respect to licensing, in California, it is not required for the investment advisor to have a S65 license to become an investment advisor.  Though, the investment advisor does need to have the S2, S7, S24. 

On terminations, according to the NASD, there are some terminations that need to be full, rather than partial, terminations.