RegistrationQuestion 30 of 100
An agent is registered only in State A. Her broker-dealer is registered in both State A and State B. She begins cold-calling residents of State B from her desk in State A. Which statement is correct?
a.No registration in State B is needed because her firm is registered there
b.No registration in State B is needed because she never physically enters the state
c.She may solicit up to five State B residents before registering
d.She must register as an agent in State B, because her offers are directed into and received in that state
Explanation
Agent registration is individual and state-specific; the firm's registration does not cover its agents. An offer directed into and received in a state is made in that state, so physical presence is irrelevant. The de minimis client counts belong to the investment adviser provisions and create no free-solicitation allowance for agents.
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