Based on the Securities Act, Chapter 83:02 of the Laws of the Republic of Trinidad and Tobago (the “Act”), a Registered Representative is an individual or natural person, who is a senior officer, agent or employee of an entity that is required to be registered as a Broker-Dealer, Investment Adviser and/or Underwriter, and who engages in any act, action or course of conduct in connection with, or incidental to, the class of business activities for which the associated Broker-Dealer, Investment Adviser and/or Underwriter is engaged in. This person ought to be registered as a registered representative in the prescribed category, subject to such terms and conditions as the Commission may determine.
Section 51(1)(b) of the Act indicates that persons who wish to conduct securities activities on behalf of market intermediaries must be registered by the Commission as Registered Representatives. By-law 22 of the Securities (General) Bye-Laws, 2015 (the “By-laws”) identifies some of the pre-requisites for registration as a Registered Representative.
Application Requirements for Registration
The Checklist for the Registration of a Registered Representative provides a detailed list of the documents, forms and fees that are generally required in support of applications for registration of Registered Representatives.
Applicants must:
(a) Apply for registration as a Registered Representative in accordance with Section 51 of the Act by completing and submitting the Form 3A (Please see this Checklist for the Registration of a Registered Representative which provides a detailed list of the documents, forms and fees that are generally required in support of applications for registration of Registered Representatives)
(b) be an individual of at least twenty-one years of age;
(c) have a degree or professional qualification in economics, banking, law, accountancy, business administration, chartered secretaryship, finance or such other qualification or training from a university or other educational institution acceptable to the Commission;
(d) have a least two years working experience in a field specified in paragraph (c);
(e) be fit and proper.
Forms
1. Form 3A
2.Form 3B– This form must be completed by the applicant and maintained in its records, it does not need to be submitted in the application package
Application Requirements for Renewal of Registration
The Checklist for the Renewal of Registration of a Registered Representative provides a detailed list of the documents, forms and fees that are generally required in support of applications for registration of Registered Representatives.
Applicants must:
- Apply for renewal of registration as a Registered Representative in accordance with Section 51 of the Act by completing and submitting the Form 3A
- be an individual of at least twenty-one years of age;
- have a degree or professional qualification in economics, banking, law, accountancy, business administration, chartered secretaryship, finance or such other qualification or training from a university or other educational institution acceptable to the Commission;
- have at least two years working experience in a field specified in the previous paragraph;
- be fit and proper.
Forms
- Form 3A
- Form 3B – This form must be completed by the applicant and maintained in its records, it does not need to be submitted in the application package
The items identified above are a summary of the requirements for an application for the registration of an Registered Representative, however, please note that the list is non-exhaustive.
The detailed break-down of requirements are provided within the checklist identified above.
Registration Fees
No. | Type of Registrant | Annual Registration Fee (TTD) |
1. | Registered Representative | $2,000 |
Please see here for a detailed list of the Commission’s fees: Fee Schedule and here for Payment Information: Payment Information.
Kindly note that fees are payable in advance and are non-refundable.