Non Registered Person Ownership
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Dec 21, 2009 9:55 pm
I am trying to find out how much ownership a non-registered person can have in an RIA and also on the BD side. I can’t say the NASD manual is that clear to read.any help is greatly appreciated
A non-registered person can own 100% of an RIA. A non-registered person can own 100% of a B/D.
Thank you for the info. My BD was telling me that in the NASD manual it states that a Non-licensed individual can only own 9% or less of a BD, and felt it was the same for an RIA. Do you know what they might be speaking of?
Why would an RIA have to be registered at all? One needs to be registered to sell products.