Series 7 Question

Discussion in 'Prop Firms' started by StockOperator, Oct 4, 2005.

  1. I have a series 7 licence and am a Member of a prop Firm but havent traded with the prop firm for 18 months.If I open up a Retail Account to Trade Stocks do I have to notify the Prop Firm first,any feedback appreciated.
  2. Surdo


    Assuming your license is still domiciled at your prop firm, you are required to notify them as well as have duplicate confirms sent to them.

    If you remove your license from the prop firm, then it is not required. Then you can worry about re-activating your license in 2 years time.
  3. Thanks for the reply.Do I have to notify them in writing or is an email or phone call OK.
  4. Are you saying one has to inform his sponsored firm
    incase he needs to trade with them again, otherwise
    (another firms) not needed?

    What happen if you don't inform your sponsored firm
    and go with another firm for trading, can new firm re-
    activate your series 7?

    Also i am thinking for applying series 7,

    -where are the best places to optain exam materials?
    i heard of and STC, are there any better?

    -Which material is good to buy, books or CDs? seems
    there are many choices
  5. If you have been "U-5'd" then nothing is required...if you are still an active member, then all accounts must be disclosed.