Checklist For Missouri Broker-Dealer Applicants is a list of requirements that must be met in order to obtain a license to operate as a broker-dealer in the state of Missouri. The checklist includes the following categories: 1. Registration: The applicant must complete the appropriate forms and submit them to the Missouri Secretary of State. 2. Financial Requirements: The applicant must submit a financial statement to the Missouri Secretary of State showing sufficient capitalization to conduct the business of a broker-dealer. 3. Surety Bond: The applicant must obtain a surety bond in the amount of $50,000 from a surety company authorized to do business in Missouri. 4. Fingerprinting: All applicants must submit fingerprints to the Missouri State Highway Patrol. 5. Business Plan: The applicant must submit a business plan that outlines the operations of the proposed broker-dealer. 6. Disclosure Documents: The applicant must submit disclosure documents that disclose all material facts about the applicant and the broker-dealer to prospective customers. 7. Registration Fee: The applicant must pay a registration fee of $500. 8. Background Check: The applicant must undergo a background check by the Missouri Securities Division. There are two types of Checklist For Missouri Broker-Dealer Applicants: Initial Checklist and Renewal Checklist. The Initial Checklist consists of items 1-8 listed above. The Renewal Checklist consists of items 1-6 plus a renewal fee of $500.
Checklist For Missouri Broker-Dealer Applicants
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The Disclosure Obligation requires a broker-dealer, prior to or at the time of the recommendation, to provide a retail customer full and fair disclosure of certain material facts relating to the scope and terms of the firm's relationships with their clients.
Form BD is the Uniform Application for Broker-Dealer Registration. Broker-Dealers must file this form to register with the Securities and Exchange Commission, the self-regulatory organizations, and jurisdictions through the Central Registration Depository (?CRD?) system, operated by FINRA.
Details of Regulation BI A disclosure obligation would require broker-dealers to disclose material facts about the relationship and recommendations of the products and services they provide.
How to Apply Step 1: Reserve Your Firm's Name.Step 2: Sign up for System Access.Step 3: Pay Your Application Fees.Step 4: Meet FINRA's Standards of Admission.Step 5: Submit Form BD Online.Step 6: Mail Hard-Copy Form BD.Step 7: Submit All Additional Required Forms.Step 8: Submit Fingerprints.
To apply for registration, you must file one executed copy of Form BD through the Central Registration Depository ("CRD"), which is operated by FINRA. (The only exception is for banks registering as municipal securities dealers, which file Form MSD directly with the SEC and with their appropriate banking regulator.)
The Disclosure Obligation requires a broker-dealer, prior to or at the time of the recommendation, to provide a retail customer full and fair disclosure of certain material facts relating to the scope and terms of the firm's relationships with their clients.
dealer must comply with relevant state law as well as federal law and applicable SRO rules.
How to Report Disclosure Events - Rule 4530 (a, b) FINRA Rule 4530(a) requires firms to promptly report specified events to FINRA no later than 30 calendar days after the firm knows or should have known of their existence.