Current through Register Vol. 49, No. 13, September 23, 2024
Subpart
1.
Initial application.
The application for initial registration:
A. As a broker-dealer pursuant to Minnesota
Statutes, section
80A.56(a),
shall be made by completing Form BD (Uniform Application for Broker-Dealer
Registration) in accordance with the form instructions and by filing the form
electronically with Central Registration Depository (CRD). The application for
initial registration must also include the following:
(1) proof of compliance by the broker-dealer
with the examination requirements of part
2876.4120;
(2) the fee required by Minnesota Statutes,
section
80A.65,
subdivision 2; and
(3) any other
information the administrator may reasonably require.
B. As an agent representing a broker-dealer
pursuant to Minnesota Statutes, section
80A.57(a),
shall be made by completing Form U-4 (Uniform Application for Securities
Industry Registration or Transfer) in accordance with the form instructions and
by filing the form electronically with CRD. The application for initial
registration must also include the following:
(1) proof of compliance by the agent
representing a broker-dealer with the examination requirements of part
2876.4120;
(2) the fee required by Minnesota Statutes,
section
80A.65,
subdivision 2; and
(3) any other
information the administrator may reasonably require.
Subp. 2.
Annual
renewal.
To renew a registration as a broker-dealer or an agent
representing a broker-dealer, the registrant must submit to CRD the fee
required by Minnesota Statutes, section
80A.65,
subdivision 2.
Subp. 3.
Updates and amendments.
A. A
broker-dealer must file electronically with CRD any amendments to the
broker-dealer's Form BD in accordance with the form instructions.
B. An agent representing a broker-dealer must
file electronically with CRD any amendments to the agent's Form U-4 in
accordance with the form instructions.
C. An amendment will be considered to be
filed promptly if the amendment is filed within 30 days of the event that
requires the filing of the amendment.
Subp. 4.
Completion of filing.
An application for initial or renewal registration is not
considered filed for purposes of Minnesota Statutes, sections
80A.56(a)
and
80A.57(a),
until the required fee and all required submissions have been filed with the
administrator.
Statutory Authority: MS s
45.023;
80A.82
