Covered person

Covered person of a broker or dealer means an associated person of that broker or dealer but does not include:





(ii) Not registered or required to be registered with the Commission as a broker or dealer.
Note to definition of covered person: An associated person of a broker or dealer who is not a covered person continues to be subject to the federal securities laws, including the anti-fraud provisions of the federal securities laws.

Source

17 CFR § 242.500


Scoping language

For purposes of Regulation AC ( 242.500 through 242.505 of this chapter) the term:

Is this correct? or