Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 7 - STATE SECURITIES BOARD
Chapter 116 - INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES
Section 116.8 - Fee Requirements

Universal Citation: 7 TX Admin Code ยง 116.8

Current through Reg. 49, No. 38; September 20, 2024

(a) Registration and notice filing fees. Information about registration and notice filing fees for original and renewal applications for investment adviser and investment adviser representatives, officers, partners, or solicitors of an investment adviser is available on the Agency's web site located at www.ssb.state.tx.us or by contacting an office of the State Securities Board.

(b) Reduced fees for certain persons registered in multiple capacities.

(1) In general. A person may request reduced fees under paragraph (2) of this subsection, provided they are registered or are seeking registration in Texas:
(A) as either an agent of a securities dealer or as a sole proprietor securities dealer; and

(B) as either an investment adviser representative of an investment adviser that has less than five investment adviser representatives or as a sole proprietor investment adviser with less than five investment adviser representatives.

(2) Procedure. Persons meeting the requirements of paragraph (1) of this subsection may request reduced registration fees by filing Form 133.36, Request for Reduced Fees for Certain Persons Registered in Multiple Capacities. Form 133.36 must be filed at the time the original application for investment adviser representative or sole proprietor investment adviser registration is filed, or at least 30 days before the person's existing investment adviser representative or sole proprietor investment adviser registration will expire. On review of Form 133.36, the Securities Commissioner may, in his or her discretion, grant or deny the request for reduced fees or direct the person to supply additional information.

(3) Reduced fees. If the Securities Commissioner grants a person's request, the person must pay all applicable fees for registration as a dealer or dealer's agent as specified in the Texas Securities Act, §35.A, but is exempt from the fees specified in the Texas Securities Act, §35.A, in connection with original and renewal applications for registration as an investment adviser representative or sole proprietor investment adviser, as applicable at the time Form 133.36 is filed. The reduction in fees granted by the Securities Commissioner under this subsection shall continue in force, without any further filings, as long as a person remains registered in a multiple capacity status.

(c) Reduced fees for sole proprietor investment advisers. A person seeking registration in multiple capacities as a sole proprietor investment adviser and as the designated officer of that sole proprietor investment adviser shall pay only the fee required in connection with the original or renewal application for registering as a sole proprietor investment adviser.

(d) Fees for concurrent registrations. Notwithstanding the Texas Securities Act, §35, a person shall pay only one fee required under that section to engage in business in this state concurrently for the same person or company as:

(1) a dealer and an investment adviser; or

(2) an agent and an investment adviser representative.

(e) Waiver of initial application fee and examination fee for certain military applicants. A military applicant who meets the requirements in § RSA 116.18(c) of this chapter (relating to Special Provisions Relating to Military Applicants) is eligible to have his or her initial application fee in Texas and the fee to take the Texas Securities Law Examination waived or refunded by following the procedure set out in §116.18(c).

Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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