How many firms may a person serve as manager of?

• A. Two
• B. One
• C. Three
• D. Unlimited

Answer: (B)

Supervision and accountability must be provided directly by the broker-manager for a single firm. New York law requires that a person designated as manager oversee only one brokerage firm at a time so there’s clear fiduciary duty, proper compliance, and direct oversight of licensees and transactions. Managing more than one firm would dilute that supervision and create conflicts of interest, which is not allowed. That’s why the correct answer is one. The other options would imply multiple firms under one manager, which the rules do not permit. If someone needed to oversee another firm, they would have to relinquish the manager role at the first firm or take on a manager role there independently, but not simultaneously manage multiple firms.