A successor broker-dealer assumes substantially all of the assets and liabilities, and continues the business, of a registered predecessor broker-dealer. Finally, under the same proposed rule, a broker-dealer that is registered under the Exchange Act and registered under the Investment Advisers Act would be an investment adviser solely with respect to those accounts for which it provides services that subject the broker-dealer to the Investment Advisers Act. These examinations require the Series 7 exam as a prerequisite. Broker-dealers also must file with the SEC periodic reports, including quarterly and annual financial statements. Broker-dealers owe their customers a duty of fair dealing. If compensation is involved, the member firm must approve or disapprove the proposed transaction, record it in its books and records, and supervise the transaction as if it were executed on behalf of the member firm. 76847 (Dec. 23, 2004). OFAC publishes regulations implementing each of its programs, which include trade restrictions and asset blockings against particular countries and parties tied to terrorism, narcotics trafficking, proliferation of weapons of mass destruction, as well as a number of programs targeting members of certain foreign jurisdictions. A registration form can be obtained from Securities Information Center, P.O. This translation application tool is provided for purposes of information and convenience only. The DMV is unable to guarantee the accuracy of any translation provided by the third-party vendors and is therefore not liable for any inaccurate information or changes in the formatting of the content resulting from the use of the translation service. The SRO rules impose restrictions on analyst compensation, personal trading activities, and involvement in investment banking activities. These individuals may also be called "stock brokers" or "registered representatives." Therefore, purchase of mutual fund shares or variable product units using credit extended or arranged by the broker-dealer during the distribution period is a violation of Section 11(d)(1). Proof of paid sales tax is required at the time of registration (see instructions for. LOGIN--> License Application. 100 F Street, NE 17 You will find forms for blocking and rejection reports on OFAC's website using the following links: Voluntary blocking report: As such, subsidiaries and affiliates of banks that engage in broker-dealer activities are required to register as broker-dealers under the Act.
The SEC does not charge a filing fee, but the SROs and the states may. Did the broker-dealer take reasonable precautions to ensure the integrity, confidentiality, and security of any personal financial information? 5311, et seq. The report must also disclose whether the analyst received compensation for the views expressed in the report. Level 2 Fire Restrictions are in effect for all areas of unincorporated Boulder County (See flyer for details). This gives us and the SROs early warning of these problems. Broker-dealers must supervise the securities activities of their personnel regardless of whether they are considered "employees" or "independent contractors" as defined under state law. Annual blocking report: A word about municipal and government securities. Specifically, firms registered as general purpose broker-dealers under Section 15(b) of the Act may "notice" register with the CFTC. There are a few exceptions to this general rule that we discuss below. *Pre-licensing only**Continuing Education onlyDMV has not approved any online Pre-Licensing Programs. You will find information about whether you need to register as a broker-dealer and how you can register, as well as the standards of conduct and the financial responsibility rules that broker-dealers must follow. 750 First Street, NE, Suite 1140

persons that act as "independent contractors," but are not "associated persons" of a broker-dealer (for information on "associated persons," see below). See FinCEN Web site http://fincen.gov/.
Broker-dealers must make and keep current books and records detailing, among other things, securities transactions, money balances, and securities positions. Do you handle the securities or funds of others in connection with securities transactions? Here are some of the questions that you should ask to determine whether you are acting as a broker: A "yes" answer to any of these questions indicates that you may need to register as a broker. Regulation AC (or Regulation Analyst Certification) requires brokers, dealers, and persons associated with brokers or dealers that publish, distribute, or circulate research reports to include in those reports a certification that the views expressed in the report accurately reflect the analyst's personal views. Colorado offers many license plate options. See 17 CFR 248.4, 248.5, 248.6 and 248.8. These notices must be clear and conspicuous, and must accurately reflect the broker-dealer's policies and practices. Unlike a broker, who acts as agent, a dealer acts as principal. See Securities Exchange Act Release No. Broker-dealers should also consider the impact, if any, that the Electronic Signatures in Global and National Commerce Act (commonly known as E-SIGN), Pub. SRO rules also reflect the importance of fair dealing.

Broker-dealers may enter into arrangements to offer services to members of certain non-profit groups, including civic organizations, charities, and educational institutions that rely upon private donations. Login to submit a License Application. Further, it includes a disposal rule that requires a broker-dealer (other than a broker-dealer registered by notice with the Commission to engage solely in transactions in securities futures) that maintains or possesses consumer report information for a business purpose to take reasonable measures to protect against unauthorized access to or use of the information in connection with its disposal. Closing out requires the broker or dealer to purchase securities of like kind and quantity.

For example, associated persons cannot set up a separate entity to receive commission checks. Bank brokerage activity is addressed in Regulation R, which was adopted jointly by the Commission and the Board of Governors of the Federal Reserve System. See also, Securities Exchange Act Release No. Sales by a broker-dealer of mutual fund shares and variable insurance product units are deemed to constitute participation in the distribution of a new issue. Click here to make a registration appointment. An unregistered entity that receives commission income in this situation must register as a broker-dealer.


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