New York Sponsors and Selling Agents Broker Dealer Statement is a filing requirement that must be completed by any broker-dealers who plan to offer securities in the state of New York. The statement must be filed with the New York State Department of Financial Services, and provides information about the broker-dealer, its business activities, and its financial condition. This statement must be updated annually, and must include information such as the broker-dealer’s business purpose, its registration status, its capital structure, its financial statements, its disciplinary history, and its customer complaints. There are two types of New York Sponsors and Selling Agents Broker Dealer Statement: Initial Statement and Annual Statement. The Initial Statement must be filed before the broker-dealer can transact business in New York, while the Annual Statement must be filed each year thereafter. These statements are used to help protect investors by ensuring that broker-dealers are qualified and in compliance with New York state laws.
New York Sponsors And Selling Agents Broker Dealer Statement
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FAQ
The securities laws broadly prohibit fraudulent activities of any kind in connection with the offer, purchase, or sale of securities. These provisions are the basis for many types of disciplinary actions, including actions against fraudulent insider trading.
"Blue sky laws" are state laws regulating securities transactions and prohibiting fraudulent sales practices in connection with securities.
New York securities fraud laws provide the state's attorney general with the power to investigate and sue any person, partnership, or corporation that employs any device or scheme to defraud or to obtain money or property by means of any false pretense, representation, or promise.
One of the most common examples is a company's stock, which is a type of equity security. CDs and bonds are debt securities. Securities are bought and sold through two types of transactions: issuer transactions and trading transactions.
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.
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.
Securities laws are designed to protect investors, or the people who own securities. Securities laws are designed to ensure investors have accurate information regarding the interests they are buying. They govern how much information investors must receive, including details about the type of interest and its value.