Rankings

Is my firm a broker-dealer?

A broker-dealer (B-D) is a person or firm in the business of buying and selling securities for its own account or on behalf of its customers. The term broker-dealer is used in U.S. securities regulation parlance to describe stock brokerages because most of them act as both agents and principals.

Are all broker/dealers registered with Finra?

Who regulates them: With few exceptions, broker-dealer firms must register with the Securities and Exchange Commission (SEC) and be members of FINRA.

What is the difference between broker and dealer?

A broker is a person who executes the trade on behalf of others, whereas a dealer is a person who trades business on their own behalf. A dealer is a person who will buy and sell securities on their account. On the other hand, a broker is one who will buy and sell securities for their clients.

What’s the difference between broker and dealer?

While a broker facilitates security trades on behalf of investors, a dealer facilitates trades on behalf of itself. The terms “principal” and “dealer” can be used interchangeably. By bidding on Treasury bonds and other securities, these dealers facilitate trading by creating and maintaining liquid markets.

What is the difference between a wirehouse and broker-dealer?

A wirehouse is an archaic term used to describe a broker-dealer. A wirehouse broker is typically a full-service broker, offering research, investment advice, and order execution. By being affiliated with the wirehouse, the broker gains access to the firm’s proprietary investment products, research, and technology.

Where can I find list of registered broker dealers?

Also, a list of all SEC registered broker-dealers is available as a downloadable file from the SEC’s website as a frequently requested document under the Freedom of Information Act section. To download the list, go to

What are the different types of broker dealers?

A broker-dealer firm buys and sells securities for clients and for itself. There are two types of broker-dealers. A wirehouse sells its own products, whereas an independent broker-dealer sells products from outside sources.

What do I need to know about active broker-dealers?

This ascii text file contains the Central Index Key (CIK) numbers, company names, SEC reporting file numbers, and addresses (business addresses are provided when mailing addresses are not available) of active broker-dealers who are registered with the SEC.

What kind of records do brokers have to keep?

You can find a complete list of the records that broker-dealers must keep and how long they must be kept under Securities Exchange Act Rule 17a-3 (“Records to Be Made by Certain Exchange Members, Brokers and Dealers”) and Rule 17a-4 (“Records to Be Preserved by Certain Exchange Members, Brokers and Dealers”).