Associated Person of a Broker-Dealer

A natural person who is registered or has applied for registration with FINRA ( www.practicallaw.com/1-382-3462) , including:

  • A sole proprietor, partner, officer, director, or branch manager of a broker-dealer ( www.practicallaw.com/3-383-2168) , or other natural person occupying a similar status or performing similar functions.

  • A natural person engaged in the investment banking or securities business who is directly or indirectly controlling or controlled by a broker-dealer.

  • For purposes of FINRA examinations, investigations or proceedings, any other person listed as a direct owner or executive officer on a broker-dealer's Form BD ( www.practicallaw.com/w-000-4892) .

An associated person of a capital acquisition broker (CAB) includes any of the above persons when acting on behalf of a CAB or in a person controlled by a CAB.

For further information, see Practice Note, Broker-Dealer Registration: Overview ( www.practicallaw.com/9-587-8486) , Practice Note, FINRA Supervision Rules ( www.practicallaw.com/3-589-4451) , and Practice Note, Capital Acquisition Brokers ( www.practicallaw.com/w-003-3530) .

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