ASSOCIATED PERSON
associated person.Securities. 1. A partner, officer, director, branch manager of a broker or
dealer, or any person performing similar functions or occupying a similar status, any person
directly or indirectly controlling, controlled by, or under common control with the broker or dealer,
or any employee of the broker or dealer — with two exceptions: (1) those whose functions are
solely clerical or ministerial, and (2) those required to register under state law as a broker or dealer
solely because they are issuers of securities or associated with an issuer of securities. 15 USCA §
78(a)(21), (49). [Cases: Securities Regulation 40.12. C.J.S. Securities Regulation §§ 157–158,
165.] 2. A natural person who is a partner, officer, director, or employee of: (1) the issuer; (2) a
general partner of a limited partnership issuer; or (3) a company or partnership that controls, is
controlled by, or is under common control with the issuer. Cf. AFFILIATE(2).[Blacks Law 8th]