Since teams are becoming more popular, I thought I would ask this...

Broker 1 brings in a rookie, Broker 2.  They each have their own rep #3.   All the assets stay in their joint number, but broker 1 drops a lot of the tickets under his own number because broker 2 does get paid on production.

If Broker 1 does something wrong, Ex: exercises discreation w/o written authority.  Are both Brokers liable because it was in a joint number, or just the Broker who placed the trades?

Any other Questions on Team Member Liability are welcome.