Investment adviser dual licensing

Oregon does permit an individual to be licensed to more than one employer in the securities industry. The employers to which this applies are broker-dealers, federal covered investment advisers, or state covered investment advisers. However, before any second (or third, etc.) license will be granted to this individual, all employers must sign our undertaking form (2131.pdf) and file it with our office. Original signatures are required. This form provides information to the Director that each employer is aware of the individual's employment with other firms, agrees to that employment, agrees to license the individual in Oregon, and agrees to assume joint and several responsibility for any act or omission of the individual in violation of the Oregon Securities Law.

One firm is different from another firm for purposes of this dual licensing issue if the two firms, for example, cannot or do not use the same CRD number or IRS identification number. Even if both of these firms are owned by the same parent, we do not consider them one employer.