The definition of "dealer" does not contain a "trader," that is definitely, a one that buys and sells securities for their personal account, possibly independently or inside a fiduciary ability, but not as Element of a regular organization. Regulation AC (or Regulation Analyst Certification) requires brokers, dealers, and people related https://riverjgaum.shivawiki.com/6193623/details_fiction_and_wholesale_dealer_license