Issuer Agent Registration
It is unlawful for an issuer to employ an agent in Kentucky unless that person is registered under the provisions of KRS 292.330.
All applicants must submit a fingerprint card to the FBI for a criminal background check. Background checks take approximately 14 to 16 weeks to process. The FBI report and the fingerprint card must be submitted with a completed application.
All issuer agent applications shall include:
- A completed Form U-4 application.
- FBI criminal background check.
- The Applicant Acknowledgement and Authorization for Credit Report form.
- Initial registration fee of $50 made payable to the Kentucky State Treasurer.
- Proof of passing the Series 63 or 66 examination.
- Proof of passing an appropriate subject matter examination, such as the Series 6, Series 22, etc. See 808 KAR 10:260.
You can enroll the exams listed above and obtain study materials by calling the Financial Industry Regulatory Authority (FINRA) at 301-590-6500. FINRA will require a Form U-10 to schedule the examination.
Form U-5 must be filed promptly with the Division of Securities when an issuer agent's employment is terminated.
Please note: It is the agent’s responsibility to make sure the registration application (Form U-4) is kept up to date. There is no fee to file an amended Form U-4.
Issuer Agent Dual Registration
In general, Kentucky will not license an agent who works with more than one principal (whether a broker-dealer or an issuer). However, DFI may waive this rule and grant dual registration of issuer agents under the following conditions:
- Each employing issuer must submit written verification to the Division of Securities that the firm is aware of the proposed dual registration and has no objection.
- Each employer must submit a written statement to the Division of Securities that clearly delineates which products and services the firm will be responsible for and oversee.
- At least one of the employers must assume residual responsibility and be accountable for all other securities-related activities of the agent.
Renewal Requirements for Issuer Agents
An issuer agent’s registration expires 12 months from the date of registration, pursuant to KRS 292.331(2). Companies that wish to renew registration of their issuer agent(s) must submit a Form 33-e-1 with a $50 renewal fee per agent.
For More Information
Email Leslee Wilson or call 502-782-9056 with questions regarding registration of issuer agents.
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