"Under SEC law, a company that offers its own securities must register these investments with the SEC before it can sell them unless it meets an exception. One of those exceptions is selling unregistered investments to accredited investors.
To become an accredited investor the (SEC) requires certain wealth, income or knowledge requirements. The investor must fall into one of three categories. Firms selling unregistered securities must put investors through their own screening process to determine if investors can be considered an accredited investor.
The Verifying Individual or Entity should take reasonable steps to verify and determined that an Investor is an "accredited investor" as such term is defined in Rule 501 of the Securities Act, and hereby provides written confirmation. This letter serves to help the Entity determine status, take Investor statements regarding information, and waiver of claims."
Tennessee Qualified Investor Certification Application
State:
Multi-State
Control #:
US-ENTREP-0044-1
Format:
Word;
Rich Text
Instant download
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How to fill out Qualified Investor Certification Application?
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Tennessee requires a balance sheet from every RIA. Also, RIAs with custody have to submit audited financial statements. In Tennessee, advisors must have one of the following professional designations to operate in the state: Series 65, Series 66 and Series 7, CFP, CFA, CIC, ChFC, or PFS.
How to Obtain an Investment Adviser Representative License in Tennessee Passing score on the Uniform Investment Adviser Law exam (Series 65) Passing scores on both of these exams: ... Have been registered as an RA (registered adviser) or IAR in any other state during the preceding 24 months.
A Registered Investment Advisor (RIA) is an individual financial advisor or a company that provides its clients with financial advice. Unlike other types of financial advisors, RIAs have a fiduciary duty to act in your best interest.
§48-1-109 of the Tennessee Securities Act of 1980, which requires that broker-dealers, agents, investment advisers, and investment adviser representatives register before they can lawfully conduct business in the state of Tennessee.
At a minimum, you'll need the following: FINRA entitlement. Form ADV filing. Form U4. Investment Management Agreement. Privacy Policy. Compliance Manual & Code of Ethics. Business Continuity Plan. Information Security Policy.
$85 fee associated with submitting your registration to FINRA. Exam fees, which are $245 for the Series 7, $147 for the Series 63, and $177 for the Series 66. To process the background check, FINRA charges $30.25. Tennessee Securities Department registration fee of $50.