How to Become a Licensed Stock Broker's Assistant in Connecticut
- 1). Contact the self-regulated organization your employer is a member of, and find out if you need to become a member, too. Membership in a self-regulated organization is mandatory for a licensed firm or broker-dealer. Often the self-regulated organization will require “associated persons” (as defined by the United States Securities and Exchange Commission) of the broker-dealer or firm to also register with the self-regulated organization. Ask your human resources department, regulatory compliance department or legal staff for information on your company's self-regulated organization.
- 2). Visit or call the Connecticut Department of Banking to determine if you are required to obtain a state license. If you are operating as an agent of the broker -- meaning you have contact with clients, assist them with their accounts, complete transactions or make recommendations -- you must register with the Department of Banking as an agent of the issuer. If you are working in a secretarial capacity and only making appointments for the broker or working directly under her supervision typing, filing and copying documents, you may not need a license.
- 3). Take the Series 63 examination, which is also known as the Uniform Securities Agent State Law Examination and is manged through the auspices of the North American Securities Administrators Association. You must apply through the NASAA to take the exam and pay the $96 exam fee. Study guides and test outlines are available from the NASAA website (see References).
- 4). Complete and return Form U-4 along with the $100 licensing fee to the Connecticut Department of Banking. Form U-4 is a document available from the Connecticut Department of Banking website (see Resources). The form includes detailed instructions and terminology needed to complete the form.
- 5). You will need the assistance of the registered firm and broker-dealer you work for to fill in information about the company. You may be asked to submit to a fingerprint and criminal background check depending upon the information you provide. The form also requires information about your work history, residential history and other businesses you may be involved with.
- 6). Return a passport-sized photograph with your application. If you are already registered with your firm's SRO, you do not need to include a photograph with your license application.
- 7). Receive your Connecticut license in the mail. Connecticut's Department of Banking will notify you in writing that your registration has been accepted. Until you receive the notification, you can not work as an agent of the issuer in Connecticut or with residents of Connecticut.
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