Should a firm complete Section 5 (Associated Individuals) of the Form BR in the case of a single-person branch office or in the case of a single-person, sole proprietorship broker-dealer?
No, in the case of a single-person branch office, the firm will have reported that individual as the “person-in-charge” in Section 2 (Registration/Notice Filing/Type of Office). In the case of a single-person, sole proprietorship broker-dealer; the firm will have reported that individual as the “supervisor” in Section 2 (Registration/Notice Filing/Type of Office). Therefore, in these cases, the firm should not report this individual again in Section 5 (Associated Individuals) of the Form BR. Does Form BR Section 5 (Associated Individuals) require firms to list the non-registered individuals (who maintain a CRD record via the NRF, non-registered fingerprint individual, functionality) who are located at a branch office? No. Report only registered individuals in Form BR Section 5.
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