The New York Bureau of Investor Protection and Securities Commodity Broker-Dealer Statement is a document that is required to be filed by securities and commodities brokers and dealers who do business within the state of New York. It provides the New York State Department of Financial Services with detailed information regarding the firm’s business activities, financial condition, and securities and commodities products offered. The statement also helps to ensure that the broker-dealer is compliant with applicable regulations and laws. The New York Bureau of Investor Protection and Securities Commodity Broker-Dealer Statement consists of two parts: 1) Form BD-N and 2) Form BD-Q. Form BD-N is a filing that includes the broker-dealer’s background information, including its legal structure, officers, directors, and other key personnel. Form BD-Q is a filing that provides information about the broker-dealer’s financial condition, including its capital and net capital, customer funds, and record keeping and compliance procedures. Both forms must be filed with the New York State Department of Financial Services.
New York Bureau of Investor Protection And Securities Commodity Broker-Dealer Statement
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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.)
FINRA is responsible for regulating the securities industry and conducting arbitration matters. You can request CRD information from this agency. FINRA was formed in 2007 when the National Association of Securities Dealers (NASD) Regulation, Inc., merged with New York Stock Exchange (NYSE) Arbitration in 2007.
Financial Industry Regulatory Authority (FINRA) FINRA was formed in 2007 when the National Association of Securities Dealers (NASD) Regulation, Inc., merged with New York Stock Exchange (NYSE) Arbitration in 2007.
FINRA broker-dealers must register by filing Form BD through the Central Registration Depository (CRD) online portal. All correspondence to FINRA should be sent to: P.O. Box 9401, Gaithersburg MD 20898-9401. All pertinent information is received through the CRD by the New York State Department of Law.
Commodities are natural or agricultural resources and often finite. Securities, however, yield return from a common enterprise or company, like a share in a company that trades on the stock market, or a government bond.
With few exceptions, broker-dealer firms must register with the Securities and Exchange Commission and be members of FINRA.
FINRA Regulates Broker-Dealers, Capital Acquisition Brokers, and Funding Portals. A Broker Dealer is in the business of buying or selling securities on behalf of its customers or its own account or both.
dealer must comply with relevant state law as well as federal law and applicable SRO rules.