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NEW QUESTION: 1
Which of the following persons falls under the definition of "broker-dealer," as defined by the Uniform
Securities Act (USA)?
A. Juan is employed by TrustUs Corporation to sell shares of the firm's stock to the firm's employees and
receives a commission on the shares he sells.
B. Marge is a loan officer at Treadwater Bank and Trust.
C. Michaela is employed by GetErDone broker-dealers and sells both exempt and non-exempt securities
to GetErDone's clients.
D. MyTrades is a sole proprietorship owned by Nathan Newmoney, who has established the firm solely to
make trades on his own account, thereby avoiding the commissions he would have to pay a middleman.
MyTrades falls under the definition of "broker-dealer," as defined by the Uniform Securities
Act since Nathan Newmoney is engaged in trading on his own account. The USA defines a broker-dealer
as any person that conducts securities transactions on its own account or for others. Both Juan and
Michaela are "agents" under the USA definition, and agents are specifically excluded from the definition of
a broker-dealer. Marge is also excluded from the definition since she is a loan officer at a bank.
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