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2876.4062 APPLICATION FOR REGISTRATION BY BROKER-DEALERS AND AGENTS REPRESENTING BROKER-DEALERS.

Subpart 1.

Initial application.

The application for initial registration:

A.

As a broker-dealer pursuant to Minnesota Statutes, section 80A.56 (a), shall be made by completing Form BD (Uniform Application for Broker-Dealer Registration) in accordance with the form instructions and by filing the form electronically with Central Registration Depository (CRD). The application for initial registration must also include the following:

(1)

proof of compliance by the broker-dealer with the examination requirements of part 2876.4120;

(2)

the fee required by Minnesota Statutes, section 80A.65, subdivision 2; and

(3)

any other information the administrator may reasonably require.

B.

As an agent representing a broker-dealer pursuant to Minnesota Statutes, section 80A.57 (a), shall be made by completing Form U-4 (Uniform Application for Securities Industry Registration or Transfer) in accordance with the form instructions and by filing the form electronically with CRD. The application for initial registration must also include the following:

(1)

proof of compliance by the agent representing a broker-dealer with the examination requirements of part 2876.4120;

(2)

the fee required by Minnesota Statutes, section 80A.65, subdivision 2; and

(3)

any other information the administrator may reasonably require.

Subp. 2.

Annual renewal.

To renew a registration as a broker-dealer or an agent representing a broker-dealer, the registrant must submit to CRD the fee required by Minnesota Statutes, section 80A.65, subdivision 2.

Subp. 3.

Updates and amendments.

A.

A broker-dealer must file electronically with CRD any amendments to the broker-dealer's Form BD in accordance with the form instructions.

B.

An agent representing a broker-dealer must file electronically with CRD any amendments to the agent's Form U-4 in accordance with the form instructions.

C.

An amendment will be considered to be filed promptly if the amendment is filed within 30 days of the event that requires the filing of the amendment.

Subp. 4.

Completion of filing.

An application for initial or renewal registration is not considered filed for purposes of Minnesota Statutes, sections 80A.56 (a) and 80A.57 (a), until the required fee and all required submissions have been filed with the administrator.

Statutory Authority:

MS s 45.023; 80A.82

History:

34 SR 593

Published Electronically:

November 23, 2009