The Virginia Uniform Application for Broker-Dealer Registration is a form used to register and maintain broker-dealer registration with the Virginia State Corporation Commission. It is used by broker-dealers to register with the state, as well as for making changes to an existing registration. The application is divided into four parts: Part I is the broker-dealer’s basic information, Part II covers financial statements, Part III covers the broker-dealer’s principal activities, and Part IV includes the signature page. All four parts must be completed in order to register or make changes to an existing registration. There are also two different types of Virginia Uniform Applications for Broker-Dealer Registration forms, one for initial applications and one for renewal applications.
Virginia Uniform Application for Broker-Dealer Registration
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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.
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. A Capital Acquisition Broker is a Broker Dealer subject to a narrower rule book.
GENERAL INSTRUCTIONS 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.
III. HOW TO REGISTER AS A BROKER-DEALER it has properly filed Form BD, and the SEC has granted its registration; it has become a member of an SRO; it has become a member of SIPC, the Securities Investor Protection Corporation; it complies with all applicable state requirements; and.
To conduct securities transactions and business with the investing public in the United States, both firms and individuals must be registered with FINRA. Firms must apply and meet certain membership standards to become a FINRA-registered broker-dealer.
How to Apply Step 1: Reserve Your Firm's Name.Step 2: Sign up for System Access.Step 3: Pay Your Application Fees.Step 4: Meet FINRA's Standards of Admission.Step 5: Submit Form BD Online.Step 6: Mail Hard-Copy Form BD.Step 7: Submit All Additional Required Forms.Step 8: Submit Fingerprints.
Registered financial professionals are licensed sales personnel who work for broker-dealer firms. Broker-dealers are in the business of buying and selling securities?stocks, bonds, mutual funds and certain other investment products?on behalf of their customers (as broker), for their own accounts (as dealer) or both.
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.)