Clarity for Compensation Act

This bill lets people who work for stock brokers set up their own small personal businesses to receive their pay, without that personal business having to register with the Securities and Exchange Commission as a broker. To qualify, the broker they work for must approve the arrangement, keep records of the payments, and have a written agreement about how it all works. The worker must already be properly registered through their broker, and the personal business cannot act as a broker or do broker-related activities on its own. The personal business must also keep certain records and share them with regulators if asked.

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