Registered Principals' Responsibilities

Areas of Supervision *

Qualification/Registration Requirement

Equity options; foreign currency options; interest rate options; index options; options on government and mortgage-backed securities

Registered Options Principal - Series 4

Sales of corporate securities; rights; warrants; closed-end funds; money market funds; REITS; asset-backed securities; mortgage-backed securities (corporate); equity options; options on (corporate) mortgage-backed securities; mutual funds; variable annuities and variable life insurance; government securities; repos and certificates of accrual on government securities; municipal securities and municipal fund securities; direct participation programs

General Securities Sales Supervisor – Series 9 and Series 10

Corporate securities; rights; warrants; closed-end funds; money market funds; REITS; asset-backed securities; (corporate) mortgage-backed securities; mutual funds; variable annuities and variable life insurance; direct participation programs; securities traders; venture capital; mergers and acquisitions; corporate financing

General Securities Principal—Sales Supervisor Module - Series 23 or General Securities Principal - Series 24

Mutual funds; variable annuities and variable life insurance

Investment Company Products/Variable Contracts Limited Principal - Series 26

Back office operations; preparation and maintenance of member's books and records; compliance with financial responsibility rules applicable to self-clearing broker/dealers and market makers

Financial and Operations Principal - Series 27

Back office operations; preparation and maintenance of member's books and records; compliance with financial responsibility rules applicable to fully disclosed broker/dealers who do not hold customer funds and securities and do not carry customer accounts

Introducing Broker/Dealer Financial and Operations Principal - Series 28

Direct participation programs (real estate; oil and gas; equipment leasing) limited partnerships; limited liability companies; S corporations

Direct Participation Programs Limited Principal - Series 39

Municipal fund securities (e.g., 529 College Savings Plans, Local Government Investment Pools (LGIPs))

Municipal Fund Securities Principal - Series 51

Municipal securities, including municipal fund securities (e.g., 529 College Savings Plans, Local Government Investment Pools (LGIPs))

Municipal Securities Principal - Series 53

 

* In addition to sales supervision, the Series 4, 23, 24, 26, 39, 51 and 53 qualify a principal for the overall supervision of the member firm’s investment banking and securities business (e.g., compliance, trading, market making, underwriting, advertising, etc.) for those areas of activity specifically covered by each supervisory principal's license.

Last Updated: 6/16/2014