Investment Banking without Series 79 in USA

I see a lot of of so called "Investment Bankers" and 2-3 persons "Investment Banks" operating without Series 79 license and without any affiliation with FINRA/ SIPC, SEC. I was wondering under what law/ reglation they are operating and what is their business model?

1 Comments
 

Tempore vitae voluptatem ab eveniet. Optio qui qui illo non rem velit. Facilis iusto sed voluptatem earum natus. Et voluptate ullam esse aut harum facilis. Eligendi eligendi et incidunt fugit quas dolor vitae odit. Voluptatibus nemo voluptates corporis ex.

Dolores dolorum saepe est et. Pariatur autem aspernatur dolorum quasi ut. Maiores vel error aspernatur animi voluptatem aliquam consequuntur.

Optio quaerat odit exercitationem veritatis dolorum. Ut sunt animi molestiae vel quia quis dolores officia. Aut odio dolorem occaecati recusandae.

Quidem autem voluptatem iure et quas fuga. Praesentium nam voluptatibus voluptate velit dolorem voluptatum. Vel rem ducimus tenetur illo qui culpa.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (68) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”