What is considered outside business activity for FINRA?
FINRA outside business activities are broadly defined. FINRA Rule 3270 states that they include any paid work performed outside of a securities professional’s employment.
What is considered outside business activity?
Outside Business Activities means any activities that a Supervised Person may be engaged in outside of their employment with the Firm, including, but not limited to, service as an officer, director, partner, employee, consultant or independent contractor with any for profit or non-profit organization.
What is not considered to be an outside business activity engaged in by an associated person quizlet?
A passive investment, such as the purchase of a limited partnership unit, is not considered an outside business activity. An associated person may make a passive investment for his own account without providing written notice to the employing broker-dealer.
What is an associated person under FINRA?
The term “Associated Person” means: (1) a natural person registered under FINRA rules; or (2) a sole proprietor, or any partner, officer, director, branch manager of the Applicant, or any person occupying a similar status or performing similar functions; (3) any company, government or political subdivision or agency or …
What is an 8210 letter?
If you receive a Rule 8210 letter, it simply means that FINRA is requesting documents, information, or testimony from you regarding an investigation of a broker-dealer or a person registered or associated with a broker-dealer. It is important to note that you may or may not be the subject of the examination.
What FINRA 3210?
FINRA Rule 3210 was adopted in 2016 and rolled out the following year. Rule 3210 governs accounts opened by members at firms other than where they work. All employees must declare their intent and obtain their employers’ consent if they wish to open or maintain an investment account at any other financial institution.
Which of the following would be an associated person?
A sole proprietor, partner, officer, director, branch manager of the member firm, or any person occupying a similar status of performing a similar function. Any company, government or political subdivision or agency or instrumentality of a government controlled by or controlling the member firm.
Which of the following would be an associated person of a firm?
An associated person (AP) is an individual who solicits orders, customers or customer funds (or who supervises persons so engaged) on behalf of a futures commission merchant (FCM), retail foreign exchange dealer (RFED), introducing broker (IB), commodity trading advisor (CTA) or commodity pool operator (CPO).
What are associated persons?
Who are associated persons of a business?
Associated person is defined as “a person” who “performs services for or on behalf” of a “relevant body”, either an employee, an agent of the relevant body, or a person acting in any of these identified capacities.
What is a FINRA letter?
FINRA publishes letters or summaries of its letters in response to requests for exemption. We do this to assist industry professionals in understanding the rationale for our decisions. FINRA has not attempted to publish letters covering every rule for which an exemption can be granted.
What can I do with the series 7 exam?
A candidate who passes the Series 7 exam is qualified for the solicitation, purchase and/or sale of all securities products, including corporate securities, municipal fund securities, options, direct participation programs, investment company products and variable contracts.
What are the rules for outside business activities?
A member also must evaluate the proposed activity to determine whether the activity properly is characterized as an outside business activity or whether it should be treated as an outside securities activity subject to the requirements of Rule 3280.
Is it necessary to pass series 7 FINRA exam?
Passing FINRA’s Series 7 Exam is a crucial step toward starting a career in securities; here’s what to do if candidates aren’t sponsored by an accredited firm. Taking and passing the Series 7 Top-Off Exam is necessary for launching many financial industry careers.
What can you do with a series 82 exam?
A candidate who passes the Series 82 exam is qualified for the solicitation and sale of private placement securities products as part of a primary offering. Covered research analyst activities include preparation of written or electronic communications that analyze equity securities and/or companies and industry sectors.