Qualifications Frequently Asked Questions (FAQ) – Foreign Associates


1. Who is eligible for registration as a foreign associate? What functions may a foreign associate perform at a firm?
A foreign associate is an individual who is not a citizen, national, or resident of the United States or any of its territories or possessions. A foreign associate does not engage in securities activities with or for any resident, citizen, or national of the United States. This person may engage in securities activities for the firm outside the jurisdiction of the United States only.

NASD Membership and Registration Rule 1100 - Foreign Associates
2. How do I become registered as a foreign associate?
The FINRA-registered firm must submit a Form U-4 through Web CRD to request registration as a foreign associate on your behalf. There is no examination requirement associated with this type of registration.

NASD Membership and Registration Rule 1100 - Foreign Associates
3. In what capacity may a foreign associate act on behalf of a firm?
A foreign associate may act in any registered capacity on behalf of the firm, consistent with his/her designation as a foreign associate. This can include acting as a trader or being the registered person responsible for servicing accounts of a foreign national.
4. In what capacity may a foreign finder act on behalf of a firm?
Foreign finders are not considered as associated persons of a firm. The sole involvement of a foreign finder in the business of a firm is the initial referral of non-U.S. customers to the firm.
    Last Updated: 4/16/2014