Series 7 Question

S

StockOperator

I have a series 7 licence and am a Member of a prop Firm but havent traded with the prop firm for 18 months.If I open up a Retail Account to Trade Stocks do I have to notify the Prop Firm first,any feedback appreciated.
 
Assuming your license is still domiciled at your prop firm, you are required to notify them as well as have duplicate confirms sent to them.

If you remove your license from the prop firm, then it is not required. Then you can worry about re-activating your license in 2 years time.
 
Are you saying one has to inform his sponsored firm
incase he needs to trade with them again, otherwise
(another firms) not needed?

What happen if you don't inform your sponsored firm
and go with another firm for trading, can new firm re-
activate your series 7?

Also i am thinking for applying series 7,

-where are the best places to optain exam materials?
i heard of dearborn.com and STC, are there any better?

-Which material is good to buy, books or CDs? seems
there are many choices
 
Quote from StockOperator:

I have a series 7 licence and am a Member of a prop Firm but havent traded with the prop firm for 18 months.If I open up a Retail Account to Trade Stocks do I have to notify the Prop Firm first,any feedback appreciated.
More...

If you have been "U-5'd" then nothing is required...if you are still an active member, then all accounts must be disclosed.

Don
 
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