Do Broker Dealer Have To Be Registered?

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In addition to registering with the SEC, a broker-dealer applicant must become a member of at least one self-regulatory organization (SRO) - the Financial Industry Regulatory Authority (FINRA), a national securities exchange, or both. SROs may charge a fee and, unlike the SEC, do not have to act within 45 days.
BD Compliance | Broker Dealer Registration Consultant