What Are the Possible Consequences of Selling a Life Settlement Investment as a Registered Securities Salesperson?
Even if a salesperson is currently licensed to sell securities in this State, the salesperson needs to check to make sure that the life settlement investments proposed to be offered have been approved for sale by the broker-dealer the salesperson represents. “Selling away,” or selling securities off the books of the broker-dealer, could result in disciplinary action by the broker-dealer and suspension or revocation of the salesperson’s registration.
Related Questions
- May an investment adviser registered with the United States Securities and Exchange Commission ("SEC") pay a third-party (non-employee) to solicit or refer new investment advisory clients?
- Why Might a Life Settlement Investment Be Considered a Security for the Purposes of the Securities Act of Washington?
- What Are the Possible Consequences of Selling an Unregistered Life Settlement Investment?
