Definition of Corporate Securities (Limited) Representative (CS)

a person who has passed the Corporate Securities Limited Representative (Series 62) examination administered by the National Association of Securities Dealers (NASD) and is licensed to trade corporate securities including common and preferred stocks, corporate bonds, rights, warrants, closed-end investment companies, money market mutual funds, privately issued mortgage-backed securities, other asset-backed securities, and real estate investment trusts, but not municipal securities, direct participation programs, other securities registered under the Investment Company Act of 1940, variable contracts, or options. Other limited representatives are licensed by the NASD (see Series 6 Registered). To trade all securities (except commodities futures), brokers must pass the General Securities Representative Examination Series 7) and, in some cases, Series 63 state examinations.