Wisconsin Broker-Dealer Activity of Applicant is the process of an individual or business applying to become a registered broker-dealer in the state of Wisconsin. A broker-dealer is a financial professional who both buys and sells securities on behalf of their clients in exchange for a commission. This activity includes the completion of an application for registration with the Wisconsin Department of Financial Institutions (DFI) as a broker-dealer. The applicant must demonstrate that they meet the state's requirements for licensing, including financial responsibility, soundness of business practices, knowledge of securities laws and rules, and good character. Types of Wisconsin Broker-Dealer Activity of Applicant include: 1. Initial Application: The initial application for registration as a broker-dealer in Wisconsin involves the completion of a form, submission of documents, and payment of a fee. 2. Amendments: Amendments to an existing application for registration as a broker-dealer in Wisconsin must be filed with the DFI. 3. Renewals: Broker-dealers must renew their registration periodically with the DFI. Renewal applications must be completed and submitted with the applicable fee. 4. Terminations: Broker-dealers must file a termination notice with the DFI when they no longer wish to remain registered. 5. Changes: Changes in business structure, personnel, or financial conditions must be reported to the DFI in a timely manner.
Wisconsin Broker-Dealer Activity of Applicant
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Visit FINRA BrokerCheck or call FINRA at (800) 289-9999. Or, visit the SEC's Investment Adviser Public Disclosure (IAPD) website.
Broker-dealers must register in every state in which they conduct business and must cause their agents soliciting customers or effecting transactions in the state to be licensed in the state, unless there is an exemption available under state law.
An affiliated broker-dealer is an entity which is registered as a broker-dealer which has some sort of affiliation with the hedge fund. Generally this will be through some sort of common ownership (i.e. principals of the hedge fund management company will work at or own a piece of a broker-dealer).
Broker-Dealers Must Register Before Selling Unregistered Securities ? Including Private Placements (or Regulation D offerings) A security sold in a transaction that is exempt from registration under the Securities Act of 1933 (the "1933 Act") is not necessarily an "exempted security" under the Exchange Act.
The Act defines an "associated person" of a broker-dealer as any partner, officer, director, branch manager, or employee of the broker-dealer, any person performing similar functions, or any person controlling, controlled by, or under common control with, the broker-dealer.
What Are Examples of Brokers-Dealers? Some of the most well-known broker-dealers are Charles-Schwab, E-Trade, and TD Ameritrade. Some of these, like Charles-Schwab, are full-scale financial services firms, while E-Trade and TD Ameritrade are primarily online brokerage firms.
A broker is a person that facilitates transactions between traders, sellers, or buyers. Think of a broker as a middleman who ensures transactions can run smoothly and that each party has the necessary information. Brokers exist in many industries, including insurance, real estate, finance, and trade.
dealer (BD) is a person or firm in the business of buying and selling securities for its own account or on behalf of its customers. The term brokerdealer is used in U.S. securities regulation parlance to describe stock brokerages because most of them act as both agents and principals.