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May “control” extend to individuals or entities that are not shown as owners or managers, but who may affect the management or direction of the firm?

April 26, 2017affect CONTROL direction entities EXTEND individuals Management managers owners

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May “control” extend to individuals or entities that are not shown as owners or managers, but who may affect the management or direction of the firm?

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A6. Yes. Individuals who are not owners or managers could be considered control persons. FINRA will document and explain its basis for concluding a control relationship and the applicant will be given an opportunity to respond.