What must a former broker do to surrender their RIBO registration?

To surrender their RIBO registration, a former broker is required to notify RIBO in writing. This formal written notification is important as it provides a clear and documented record of the broker's intent to relinquish their registration. The written notice ensures that RIBO can process the surrender properly and maintain accurate records of licensed brokers within the industry. It also safeguards against any misunderstandings regarding the status of the broker's registration, which could arise from verbal communications.

A verbal notification could lead to ambiguity or miscommunication, which is why a written notice is the correct procedure. The need for a feedback form or the payment of an exit fee is not standard procedure for the surrendering process, making them less relevant considerations in this situation. Therefore, the requirement for a written notification aligns with proper regulatory practices and emphasizes the importance of clear and documented communication in the financial sector.