Can a firm specify a Supervisor/Person-In-Charge for a branch office on a Form U4?
No. When a firm associates an individual with a branch office on the Form U4, the individual is considered an “Associated Person” of the branch. In order to designate that individual as a Supervisor/Person-in-Charge, the firm must file a Form BR amendment. If an individual is currently listed as a Supervisor/Person-In-Charge for a branch, what happens to the individual’s record when a Form BR amendment is filed to remove that individual from the role of Supervisor/Person-In-Charge for that branch? When a Supervisor/ Person-In-Charge is removed on a Form BR amendment filing, that individual will remain associated with the branch in a non-Supervisor/ Person-In-Charge role. In order to completely remove this individual from being associated with the branch, the firm must file a U4 amendment to provide an end date to the individual’s Office of Employment Address location.
Related Questions
- If a firm opens a new branch and adds a new registered person who will be a supervisor or person-in-charge of the new branch, which should the firm file first – the Form BR or Form U4?
- When a firm files a Form BR amendment to update the address of the branch office, should the firm file U4 amendments for all of the individuals associated with that location?
- Can a firm specify a Supervisor/Person-In-Charge for a branch office on a Form U4?
