Regulatory FrameworkQuestion 364 of 398
A broker-dealer wants to begin conducting a securities business for the first time. Which form must the firm file to register as a broker-dealer?
a.Form U4
b.Form ADV
c.Form BD
d.Form U5
Explanation
A firm registers as a broker-dealer by filing Form BD (Broker-Dealer). Form U4 and U5 apply to individual associated persons, and Form ADV is used by investment advisers. Form BD is filed through the Central Registration Depository (CRD) system.
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