Virginia Administrative Code
Title 21 - SECURITIES AND RETAIL FRANCHISING
Agency 5 - STATE CORPORATION COMMISSION
Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER
Part I - Broker-Dealers
Section 21VAC5-20-10 - Application for registration as a broker-dealer
Current through Register Vol. 41, No. 3, September 23, 2024
A. Application for registration as a broker-dealer by a FINRA member shall be filed in compliance with all requirements of CRD and in full compliance with forms and regulations prescribed by the commission and shall include all information required by such forms.
B. An application shall be deemed incomplete for registration as a broker-dealer by a FINRA member unless the applicant submits the following executed forms, fee, and information:
C. Application for registration for any non-FINRA member broker-dealer shall be filed with the commission at its Division of Securities and Retail Franchising or such other entity designated by the commission on and in full compliance with forms prescribed by the commission and shall include all information required by such forms.
D. An application shall be deemed incomplete for registration as a non-FINRA member broker-dealer unless the applicant submits the following executed forms, fee, and information to the commission:
E. The commission shall either grant or deny each application for registration within 30 days after it is filed. However, if additional time is needed to obtain or verify information regarding the application, the commission may extend such period as much as 90 days by giving written notice to the applicant. No more than three such extensions may be made by the commission on any one application. An extension of the initial 30-day period, not to exceed 90 days, shall be granted upon written request of the applicant.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of Virginia.