Final answer:
Brokers must designate a manager for each branch office, ensuring proper supervision and compliance with regulations.
Step-by-step explanation:
When a broker obtains a license for a branch office, they must designate a manager for each branch office. This requirement ensures proper supervision and accountability within the organization. The manager is responsible for overseeing the operations of the branch office and ensuring compliance with regulatory requirements.
In the context of securities and investments, this requirement is set forth by the regulatory body that regulates and supervises the sale of securities - the Securities and Exchange Commission (SEC) in the United States. The SEC is responsible for protecting investors and maintaining fair and efficient markets.