Registration
& compliance requirements
NASD
/ CRD registration
If
you have a contract with your existing broker-dealer
If
you have had prior complaints or disciplinary actions
If
you do not have registered representative status
How
long does it take to transfer a license?
Additional
requirements
Registration
and compliance requirement
All Independents Brokers are subject
to have their CRD record reviewed and approved by compliance
prior to becoming an independent broker of WSE. Additional WSE
reserves the right to any further due deligence. WSE will walk
you every step of the to assure a smooth transition of your
license.
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NASD / CRD Registration
Your transfer to WallStreet Electronica,
Inc. should be smooth and easy. The following are steps required
in order to transfer your FINRAlicenses to WSE
If
you have no contract with your existing Broker-Dealer, no
prior complaints, and are currently registered in good standing,
click here.
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If you have
a contract with your existing broker- dealer
Please disclose this immediately
to WSE and forward a copy of the agreement to the home office.
The contract may contain provision that require special treatment.
Make sure that you discuss this issue with WSE licensing in
advance in order to avoid complications in registration.
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If
you have had prior compaints or disciplinary action
Please disclose in advance
to WSE any prior complaints or disciplanary actions. This
disclosure will make it easier for us to process your application
materials, which in most cases must contain reference to these
matters..
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Establishing
registered representative status
WallStreet Electronica,
Inc. does sponsor candidates who would like to become registered
representatives provided that they:
1.
Remain with WSE once licensed.
2. Engage in the securities industry on a full-time basis.
3. Are willing to be supervised by another WSE representative.
4. Pay all licensing and application fees.
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How long does it take to transfer a license?
WSE uses the FINRA's CRD
system to transfer your license. This system can clear a Registered
Representative to do business between 24 to 48 hours.
One
Day Clearance:
One day clearance is possible under
the following conditions:
- There
are no answers marked "yes" on page 3 of Form
U-4. If any box is marked "yes", a same day clearance
is not possible.
- Same
day clearance varies with each state registration depending
on the registration system the state uses (automated or
manual).
- WallStreet
Electronica, Inc. receives the entire licensing packet,
with all applicable fees
- The
Registered Representative is free and clear of any disciplinary
actions brought on by any securities industry regulators.
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In addition to the above regulatory process,
you are also required to submit and maintain:
You are also required to submit and
maintain:
1.
Letter of resignation
2. U-5
3. Independent Broker Confidential Profile
4. "Monthly Compliance Report(s)" (provided by
WSE)
5. Review WSE procedures
6. Maintain your own procedures
7. Keep accurate books and records
8. Comply with all rules and regulations of the FINRA
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Registration
& Compliance
