Quote from Toonces:
Nasdaq finally contacted me with a response. In case anyone else finds himself in a similar situation, here's the email they sent.
"Currently, if an individual is registered with any state, federal, or international securities agency or self-regulatory body, they are automatically defined as a professional end user. HOWEVER, IF THE INDIVIDUAL HAS FILED A FORM U-5, OR ANY ORGANIZATION HAS FILED A FORM U-5 ON BEHALF OF THE INDIVIDUAL, THAT PERSON IS NOT CONSIDERED TO BE REGISTERED AND IS NOT AUTOMATICALLY CONSIDERED A PROFESSIONAL EVEN THOUGH THEY HAVE BEEN REGISTERED. They still may be a professional because they meet the criteria in other ways. That being said, as soon as a Form U-4 is filed, he or she becomes a pro again.
The Forms U-4 and U-5 are used by broker/dealers to register, and terminate the registrations of, associated persons with self-regulatory organizations and the jurisdictions. The Form U-4 is the Uniform Application for Securities Industry Registration or Transfer. Representatives of broker-dealers, investment advisors, or issuers of securities must use this form to become registered in the appropriate self-regulatory organizations and jurisdictions. The form U-5 is the Uniform Termination Notice For Securities Industry Registration. Broker-dealers, investment advisors, or issuers of securities must use this form to terminate the registration of an individual in the various self-regulatory organizations and jurisdictions.
