Editing Stockbroker (section)

===United States===
{{See also|Registered investment adviser}}
The [[Financial Industry Regulatory Authority]], a [[self-regulatory organization]], regulates investment professionals in the [[United States]]. Exams that individuals may take for accreditation include the [[Series 7 exam]], the [[Uniform Securities Agent State Law Exam]] (Series 63), the [[Uniform Combined State Law Exam]] (Series 66), and the [[Uniform Investment Adviser Law Exam]] (Series 65).<ref>{{cite web|url=https://www.thestreet.com/how-to/how-to-become-a-financial-advisor-14650926|title=How to Become a Financial Advisor: What You Need to Know|publisher=[[TheStreet.com]]|last=Fiorillo|first=Steve|date=August 22, 2019|access-date=October 9, 2020}}</ref>

Individuals holding some of those licenses, such as the [[Series 6 exam]], cannot be called stockbrokers since they are prohibited from selling stocks.{{citation needed|date=October 2020}} Selling variable products, such as a [[variable annuity]] contract or [[variable universal life insurance]] policy, typically requires the broker to also have one or another state insurance department licenses.

Individuals and firms are regulated by the [[U.S. Securities and Exchange Commission]] and laws related to the [[Investment Advisers Act of 1940]], including laws related to [[fiduciary]].