How Broker-Dealers Register (Series 63, 65, 66)

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Achievable for the Series 63 - achievable.me/exams/finra-ser...
Achievable for the Series 65 - achievable.me/exams/finra-ser...
Achievable for the Series 66 - achievable.me/exams/finra-ser...
Achievable's Series 63 chapter covering broker-dealer registration - app.achievable.me/study/finra...
Achievable's Series 65 chapter covering broker-dealers registration - app.achievable.me/study/finra...
Achievable's Series 66 chapter covering broker-dealer registration - app.achievable.me/study/finra...
Basic Wisdom - basicwisdom.net
Tutoring - bit.ly/2Hwf2vy
Other Basic Wisdom videos - bit.ly/2FrIZe6
We explore how broker-dealers register, relevant regulations, and explore a practice question together. This is one of many videos available on the Achievable platform - links to our learning program are above!
Video introduction: (0:00)
Form BD: (1:01)
Consent to service of process: (2:33)
Filing fees: (3:10)
Financial requirements: (3:52)
Surety bonds: (4:53)
Officer, director, and/or partner info: (5:29)
Effective registration: (6:14)
Length of registration: (6:53)
Analyzing a practice question: (7:27)
Achievable outro: (12:00)

Опубликовано:

24 июл 2024

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Комментарии : 14

@berhanusetegn 2 месяца назад

Tank you for all

@francofernandez133 Год назад

Thank you for the breakdown! Ken recommended you!, do you have a video on jurisdiction?

@itndiner Год назад

Here because of Ken also!

@BasicWisdom Год назад

I don't yet, unfortunately. However, maybe this will help. A state administrator has jurisdiction over a financial professional (e.g., broker-dealer, agent, investment adviser, IAR) or other parties when an offer or transaction occurs in their state. Basically, if a person resides in a state where an offer or transaction occurs, then the administrator has jurisdiction.

@alexpascal5403 7 месяцев назад

@@BasicWisdom yup basically. Well, Ken. Also, my little sister?? She’s a peanuz twister. She’ll pitch your tent !! Why? Cuz her mouths for rent !! 1:17

@clevelend22 10 месяцев назад

What if an individual wants to obtain a broker dealer license? I'm in the state of Alabama by the way. Which exam would I need to take? And do I need to be employed at an FINRA registered firm before taking the exam?

@BasicWisdom 10 месяцев назад

Individuals don't register as broker-dealers; this is a designation for a firm (company). Individuals register as agents of broker-dealers. Most agents obtain the SIE, Series 7, and 63, but you should always check with a legal resource (securities lawyer) to confirm.

@andremessam3770 Год назад

I want to take the series 27 exam. However, I am not working at financial institution. How and where do I start? I believe the SIE exam is the starting point. After I pass that exam. Do I need to secure employment with a FINRA registered organization before sitting for the Series 27? Thank you

@BasicWisdom Год назад

Is there a reason why you're focusing on the Series 27?

@andremessam3770 Год назад

@@BasicWisdom I came across some positions of interest the highlighted the series 27. I've been in nonprofit for 7 years but looking to transition sector's.

@BasicWisdom Год назад

@@andremessam3770 you will need firm sponsorship (employment) in order to take the exam. I assume those roles will require the SIE, Series 7, and 63 (or 66) as well. If so, you can take the SIE and 63 without firm sponsorship. But, you would need to be employed at a firm to be eligible to take the 7 and 27. I'd first identify what licenses you'll need and the length of your study window (e.g., 4 months). From there, get access to learning materials (Achievable has programs for the SIE, S7, and 63, but not the 27), build a calendar, and study!

@h1inc816 9 месяцев назад

Can I start a broker dealer business without an existing license? About how much does it cost? I’m talking to a competent attorney in the field that quoted me $100k

@BasicWisdom 9 месяцев назад

You'll need licenses for the people running the business and working with customers, plus you'll need to get the broker-dealers registered. Additionally, you'll probably need to obtain insurance (known as surety bonds), accounting services (for balance sheet and income statement disclosures), and legal services (for compliance). All in all, $100k doesn't seem unreasonable. These are difficult businesses to start due to the legal and regulatory costs involved.

@BasicWisdom 9 месяцев назад

Regardless, good luck! I hope you can figure it out!