can a broker registered at one broker dealer get paid commissions from a broker dealer he is not registered with? In other words if I am a registered broker at xyz securities and my friend refers a client to me and I open an account for that client at my BD. if my friend is a registered broker at abc securities can I or my BD pay him a part of the commission? I was refered because the broker who did not open my account underestimated my volume. Now the two brokers fighting over my commissions. the guy who referred me wants half the commission over ride, my current broker says its against SEC rules to get paid commissions from a BD you are not registered with