1.2.1.1.2. Limited Principal
• General Security Sales Supervisor (Series 9/10)—supervises sales activities but cannot supervise investment banking, trading, or overall firm compliance with financial responsibilities. Series 7 is a prerequisite.
• Financial and Operations Principal (Series 27)—prepares the financial reports for a clearing firm, filed with FINRA and the SEC.
• Introducing Broker-Dealer Financial and Operations Principal (Series 28)—prepares the less-involved financial reports for a non-clearing firm, filed with FINRA and the SEC.
• Registered Options Principal (Series 4)—approves and reviews all options transactions. All member firms engaged in options transactions must have at least one Registered Options Principal. Also requires passing the Series 7.
• Investment Company and Variable Contracts Products Principal (Series 26)—supervises sales of redeemable securities, such as annuities, variable life insurance, and mutual funds. Series 6 or 7 is a prerequisite.
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