The Nebraska Uniform Request for Broker-Dealer Withdrawal (Form BDW) is a document used to officially request an individual or entity's withdrawal from a broker-dealer or investment adviser business. The form is issued by the Nebraska Department of Banking and Finance and must be fully completed, signed, and submitted to the department's Securities Division. There are three types of Nebraska Uniform Request for Broker-Dealer Withdrawal (Form BDW): Form BDW-1, Form BDW-2, and Form BDW-3. Form BDW-1 is used when an individual or entity wishes to withdraw from registration as a broker-dealer, Form BDW-2 is used when an individual or entity wishes to withdraw from registration as an investment adviser, and Form BDW-3 is used when an individual or entity wishes to withdraw from both registration as a broker-dealer and registration as an investment adviser. The form includes information such as the name and address of the broker-dealer/investment adviser, the name and address of the individual or entity requesting the withdrawal, and the signature of the individual or entity requesting the withdrawal.
Nebraska Uniform Request for Broker-Dealer Withdrawal (Form BDW)
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How to fill out Nebraska Uniform Request For Broker-Dealer Withdrawal (Form BDW)?
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FAQ
One of the "broker" exceptions ? known as the de minimis exception ? permits banks to engage in no more than 500 brokerage transactions per year that are not otherwise exempt without registering with the Commission.
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.
Exclusions exist when a person does not meet the legal definition (e.g. a certain person is not legally considered an agent).
Qualifying for an exclusion, which means a person does not meet the definition of a broker-dealer, legally allows firms to avoid registration. These are the exclusions discussed in this chapter: General broker-dealer exclusions.
Any Lawyer, accountant, teacher, or engineer whose advice is solely incidental to the practice of their profession, unless they have established a separate advisory business or holds themselves out as offering investment advice.
Firms can file full or partial withdrawals of registration by submitting Form BDW (Uniform Request for Broker-Dealer Withdrawal).
The Form also is used by applicants to register as broker- dealers with certain self-regulatory organizations and all of the states. The Commission and the Financial Industry Regulatory Authority, Inc. maintain the files of the information on this Form and will make the information publicly available.
Vacation (snowbird) rule Another way a firm can avoid registration as a broker-dealer exists if the following conditions are met: No place of business in the state. Only doing business with existing customers temporarily in that state (non-residents)