Legal FAQs

Maintaining Written Policies and Procedures

No. Only a broker who sponsors salespeople or is a designated broker for a business entity must maintain up-to-date written policies and procedures. A broker who sponsors salespeople is subject to this rule regardless of how long the broker sponsors the salespeople. A broker who is the designated broker for a business entity is subject to this rule whether or not the business entity sponsors salespeople.

Last Updated August 25, 2025