Final answer:
A person employed by an issuer is required to register under the USA when making a sale of a non-exempt, retail security to a retail investor. The correct option is D.
Step-by-step explanation:
According to the USA (Uniform Securities Act), a person employed by an issuer is required to register when making a sale of a non-exempt, retail security to a retail investor. This means that the person must comply with the registration requirements set by the Securities and Exchange Commission (SEC) and provide necessary information about the security being sold, such as financial statements and prospectus, to the investor.
For example, if a company is selling stocks (a type of security) to individual retail investors, the person employed by the company would need to be registered under the USA.
Hence, Option D is correct.