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Learning path

Broker-dealer and dealing learning path

A guided path for people learning securities sales, dealing, brokerage, transaction compensation, registered representatives, supervision, and public-register checks.

Who this path is for

  • - Broker candidates
  • - Capital raising teams
  • - Placement agents
  • - Broker-dealer startup teams

Starting point

You touch securities transactions, introductions, order routing, sales, or transaction compensation and need to understand dealing or broker-dealer routes.

Outcome

You can identify brokerage/dealing triggers, choose an exam path, understand firm sponsorship, and prepare register/supervision questions.

Path stages

Stage 1

Map transaction activity

Find the dealing or broker-dealer trigger.

  • - Read the brokerage/dealing requirement page and the US broker-dealer application pack.
  • - Map introductions, order routing, execution, placement, success fees, commissions, spreads, and referral compensation.
  • - Separate securities brokerage from investment advice and capital raising consulting.
Brokerage/dealing requirementsUS broker-dealer NMA packCapital raising requirements

Stage 2

Choose representative exams

Pair SIE with the right sponsored qualification route.

  • - For the US, start with SIE only as field knowledge, then check Series 7 or other qualification exams with firm sponsorship.
  • - For Hong Kong and Singapore, use HKSI/CMFAS pages to map dealing modules to the regulated activity.
  • - Keep public-register and Form U4/representative evidence separate from study notes.
FINRA SIE study mapFINRA Series 7 study mapHKSI Paper 1 study map

Stage 3

Learn supervision and register checks

Understand what licensed firms must control after the exam.

  • - Study customer onboarding, suitability or Reg BI where relevant, communications, order handling, conflicts, complaints, AML/CFT, and branch supervision.
  • - Use BrokerCheck, SFC, MAS, FCA, and ASIC public registers for due diligence.
  • - Check whether a principal, responsible officer, senior manager, or responsible manager supervises the work.
Public registersPublic register due diligence checklistSecurities broker career path

Checkpoints

  • - I can identify whether compensation is transaction-linked.
  • - I know which exam requires firm sponsorship and which does not.
  • - I can explain the difference between a registered representative and an investment adviser representative.
  • - I know where to check the firm and person on official registers.

Common mistakes

  • - Calling placement or introductions consulting while fees are transaction-linked.
  • - Thinking SIE or Series 7 alone creates a firm licence.
  • - Ignoring supervision and branch/registered-person controls.

Disclaimer

Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.