Non Registered Person Ownership
Dec 21, 2009 9:55 pm
I am trying to find out how much ownership a non-registered person can have in an RIA and also on the BD side. I can’t say the NASD manual is that clear to read.
any help is greatly appreciatedDec 21, 2009 10:04 pm
A non-registered person can own 100% of an RIA. A non-registered person can own 100% of a B/D.
Dec 21, 2009 10:08 pm
Thank you for the info. My BD was telling me that in the NASD manual it states that a Non-licensed individual can only own 9% or less of a BD, and felt it was the same for an RIA. Do you know what they might be speaking of?
Dec 21, 2009 10:13 pm
Why would an RIA have to be registered at all? One needs to be registered to sell products.
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