An agent of a broker-dealer leaves the firm and immediately joins a new broker-dealer in the same state. Under the Uniform Securities Act, how must the registration transfer be handled?
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AThe agent must file a new application, and the prior registration terminates when the Administrator is notified of the termination
BThe agent may continue to conduct business under the old registration for up to 90 days while the new application is pending
CNo action is required because agent registrations are not firm-specific under the USA
DThe existing registration automatically transfers to the new broker-dealer without any filing
✓ Correct answer: A. The agent must file a new application, and the prior registration terminates when the Administrator is notified of the terminationUnder the USA, an agent's registration is specific to the sponsoring broker-dealer; upon termination, both the firm and agent must promptly notify the Administrator, and the agent must file a new registration with the new firm before resuming activity.
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