Posted in Inside Lane

The Administrator


I passed my Series 6 exam, and am now studying for my 63.  I take the test on Thursday, and have until then to worry about whether, or not I am actually retaining the knowledge I have repeatedly drilled into my brain, or if my brain is actually leaking out my ear–because that’s what it feels like.

Under the Uniform Securities Act, there is this character called The Administrator.  The Administrator is the boss of you, if you are a registered agent, investment advisory rep, or firm.  As such, The Administrator is always capitalized in the texts I’m reading.  I keep seeing him as Morpheus.

“The Administrator neither approves, nor disapproves the registration of any security. He either grants, or denies the registration.”

Up until last week, I thought that approving something, and granting something status were the same thing. Hahaha!  Silly, simple me.  I also thought that I understood the difference between something being unethical, and something being fraudulent.

Each state has its own The Administrator, and sometimes more than one The Administrator has jurisdiction over an issue.  In that way, The Administrator is more of an Agent Smith.  But since where you answer the phone determines which one of him owns you, he is again like Morpheus.

You know who I am like?  What was the name of the terrible traitor guy, who just wanted to eat steak?  Him.  That’s me.

But I’ll keep reading, and I’ll keep plugging away, and I’ll hope it’s enough.

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Author:

Happy. That about covers it.

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