Final answer:
In real estate, a broker or salesperson's license is typically only issued to individuals who are legal residents of the jurisdiction. Regulatory bodies oversee professional standards and consumer protection within the industry. Similarly, in the financial sector, agencies supervise the sale of securities by regulated professionals.
Step-by-step explanation:
No individual real estate broker or salesperson's license shall be issued to any person who is not a legal resident. In the context of real estate licensing, this requirement ensures that individuals are legally able to work within the jurisdiction where they seek licensure. Regulatory bodies, such as real estate commissions or boards, have the authority to set these requirements to maintain professional standards and protect consumers.
In the broader financial industry, there are regulatory agencies that regulate and supervise the sale of securities and the brokers, dealers, and bankers who sell them. These regulatory bodies ensure that all financial professionals adhere to legal and ethical standards to foster integrity in the marketplace.