A broker-dealer is a firm or individual in the business of buying and selling securities for clients and for their own account. This video breaks down how broker-dealers operate, when registration is required, and the regulatory framework that governs them.

You’ll learn:

• The legal definition of a broker-dealer

• How broker-dealers differ from investment advisers and agents

• When registration is required at the state and federal levels

• Common business activities broker-dealers engage in

• Regulatory responsibilities and exam-tested scenarios

📘 Related Exams: SIE, Series 7, Series 63, Series 65, Series 66
🧠 Skill Level: Beginner-to-intermediate
📈 Topics Covered: Broker-dealer regulation, registration requirements, securities business structure, Uniform Securities Act