PERSON (8)

1. Corporation
2. Partnership
3. Association
4. Joint-Stock Company
5. Unincorporated Association
6. Government
7. Political Subdivision of Government
8. Certain Trusts

NOT

PERSON

Minor

(someone under the age of majority)

Agent Application

Requirements

(5)

1. Qualifications & Business History
2. Injunctions or administrative orders involving a security
3. Convictions or misdermeanors involving securities
4. Felony convictions
5. Financial Condition and History

Exempt Securities

(8)

*Person who represents these NOT an agent.

1. U.S. Governemnt Bonds
2. Municipal Securities
3. Canadian Government & Municipal Securities
4. Recognized Foriegn Governments
5. Domestic Banks, Savings Institutions, Trust Companies
6. Investment grade promissory notes (commercial paper) and bankers' acceptances (Less that 9 mos., Min. $50k)
7. Investment Contracts for employees' stock purchase, savings, pension, profit sharing, etc.

NOT Agent

1. Reperesents issuer in exempt transaction
2. Represents an issuer in transactions with employees of that issuer securities (does not receive commissions)
3. Employees and partners that DO NOT effect transactions

NO Issuer

Certificate of interest or participation in oil, gas or mining titles or lease

Non-Resident Exemption

(Agent Registration)

Service a customer who is temporarily in another state for

30 DAYS or less.

RR Must...

1. NOT be INELIGIBLE to register in new state
2. Be registered with a securities association (ie NASD)
3. Broker-Dealer MUST be REGISTERED in new state

New Resident Exemption

(Agent Registration)

 Issuer

Any person who issues or proposes to issue any security.

Agent

Individuals representing

• Broker-Dealers in securities transactions
  • Excludes Non-Resident & New-Resident Exceptions
• Issuers in securities transactions
  • Exludes individuals representing issuers in
    • Exempt securities
    • Exempt transactions
    • Transactions with employees (no commission)

Registration Whammy

Denial, Suspension or Revocation

by Administrator

1. Filing an incomplete application or one that has false or misleading info
2. Willfully violating or failing to comply with any provision of the USA
3. Convicted (last 10 years) of any misdemeanor involving any aspect of the securities business
4. Convicted of a felony

Registration

NOT DENY application

by Administrator

Adminsitrator may not deny an agent's application soley on the basis of lack of experience if the applicant is otherwise qualified in terms of training and knowledge.