Series 28: Exemptions

Taken from our Series 28 Online Guide

Exemptions

Broker-dealers whose business activities are limited with respect to handling their customers’ funds and securities are exempt from the financial restrictions of the customer protection rule.

The following are exempt:

• Introducing brokers that promptly transmit all funds and securities to their clearing broker on a fully disclosed basis.
• Broker-dealers whose only transactions involve registered investment companies or interests in an insurance company’s separate account.

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Since you're reading about Series 28: Exemptions, you might also be interested in:

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I took this Series 28 today and passed on my first try! I think the practice exams helped a ton, though in general, I would say the actual test seemed (at least to me), more difficult than the practice exams. Either way, couldn't have done it without the Solomon Exam Prep.

Gayle Espinosa. Los Angeles, CA

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Kathy Stanfield, P.J. Robb Variable Corp., Memphis, TN

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