FINRA and Outside Business Activities. 2 Questions

[insurancemet]

Hi, I understand if you are license in securities, you have to show outside business activities, is that for everything? like say you sell something on EBAY.

Also, eg..if you have your license at Mass and you sell medicare, health, final expense with other companies, is that something you have to also report? Also, if you do have these licenses, can you sell medicare, health, final expense as well?

I've seen agents here say they were just happy giving up their license because it was a headache..I wasn't sure why, is it because of this? Thanks.

 

[Mattschmidt]

Hi, I understand if you are license in securities, you have to show outside business activities, is that for everything? like say you sell something on EBAY.

Also, eg..if you have your license at Mass and you sell medicare, health, final expense with other companies, is that something you have to also report? Also, if you do have these licenses, can you sell medicare, health, final expense as well?

I've seen agents here say they were just happy giving up their license because it was a headache..I wasn't sure why, is it because of this? Thanks.

I personally disclose everything, including my duties as committee members for Non-Profits...You pretty much have to give up your entire life to this organization...Just disclose everything and you will be fine

 

[Norwayguy]

Hi, I understand if you are license in securities, you have to show outside business activities, is that for everything? like say you sell something on EBAY.

Also, eg..if you have your license at Mass and you sell medicare, health, final expense with other companies, is that something you have to also report? Also, if you do have these licenses, can you sell medicare, health, final expense as well?

I've seen agents here say they were just happy giving up their license because it was a headache..I wasn't sure why, is it because of this? Thanks.

Yes you are supposed to disclose outside business activities...If you sell Ebay as a business you should list it. You will be very surprised at the emails you might get from compliance as they are constantly scanning for info on the company and brokers.

What I did when I was registered to disclose insurance sales is I listed myself as a sole proprietor for sales and service of insurance products using my Life & Health license.