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Virginia Administrative Code
Title 21. Securities And Retail Franchising
Agency 5. State Corporation Commission, Division of Securities And Retail Franchising
Chapter 20. Broker-Dealers, Broker-Dealer Agents and Agents of the Issuer
9/15/2025

21VAC5-20-95. Employment of an agent by more than one broker-dealer.

A. In accordance with § 13.1-504 B of the Act, an agent may be employed by more than one broker-dealer if all of the following conditions are satisfied:

1. Each employing broker-dealer is under common ownership and control as defined in subsection B of this section or as provided under 21VAC5-20-330 C 2 c.

2. Each employing broker-dealer is registered in accordance with 21VAC5-20-10.

3. Each employing broker-dealer agrees to be responsible for the employment activity of the agent.

4. The agent is registered in accordance with 21VAC5-20-90 by and on behalf of each employing broker-dealer.

B. The term "common ownership and control" as used in this section means the same individual possesses at least a 50% ownership interest in each employing broker-dealer.

Statutory Authority

§§ 12.1-13 and 13.1-523 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 23, Issue 23, eff. July 1, 2007; amended, Volume 29, Issue 20, eff. June 3, 2013; Volume 41, Issue 24, eff. August 1, 2025.

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