Registration as a Securities Broker/Dealer in North Carolina is subject to rules, regulations, and application procedures of the Securities and Exchange Commission.
Annually
GS 78A-36-18 AC 6.1400 - 1415
A Person In The Business Of Effecting Transactions In Securities For The Account Of Others For His Own Account. No Dealer Is Eligible For Registration In North Carolina Unless Already Registered With The Securities & Exchange Commission. Requirements To Apply: Originally Executed Form BD (Uniform Application For Broker - Dealer Registration). $200.00 Fee. Make Payable To And Send Directly To The National Association Of Securities Dealer (N ASD). Letter Or Photostat Of Letter From The Securities And Exchange Commission Showing The Date They Granted Registration As A Broker - Dealer. Copy Of Latest Focus Part Ii Or Iia Report On Financial Statement. Evidence Of Compliance With The Net Capital Rule As Defined By Rule .1410(E) Greater Than $100,000 Or Evidence Of Compliance With Rule .1410. Net Capital Requirements Or Bond Or Evidence Of A Deposit Of Cash Or Securities In The Appropriate Amount Provided As Follows: Dealers With Principal Office And Substantial Assets In This State And Organized Under North Carolina Laws - $50,000. Dealers Trading In Municipal Bonds Only, Or In Investment Company Securities Only, Or Do Not Generally Carry Customer'S Accounts - $25,000. Dealers Offering And Selling Only Direct Participation Programs - $50,000. All Other Dealers - $75,000. 6. Form U-4 (Uniform Application For Securities Industry Registration Or Transfer) Page 2 Only For Any Natural Person Listed On Schedule A,B, Or C Of Form Bd Who Does Not Currently Have A Form U-4 On File With The NASD, Central Registration Depository Computer System. If The Firm Doesn't Maintain An Office In North Carolina They Must Submit Two Copies Of A Letter Requesting A Waiver Be Granted From Maintaining Records Within The State Of North Carolina. The Address Of Where Records Are Maintained Should Be Given. Written Notification Identifying Each Partner, Director, Or Executive Officer, As Defined In Rule .1415(F) Who Will Engage In Salesman Activities And Are Requesting Automatic Salesman Registration
Dealer Does Not Include: A Salesman.; A Bank, Savings Institution, Or Trust Company.; A Person Who Has No Place Of Business In This State If : He Effects Transaction In This State Exclusively With Or Through The Issuers Of The Securities Involved In The Transactions, Other Dealers, Or Banks, Savings Institutions, Trust Companies, Investment Companies, Pension Or Profit-Sharing Trusts, Or Other Financial Institutions Or Institutional Buyers, Whether Acting For Themselves Or As Trustees, Or In The Case Of A Person Registered As A Dealer With The S.E.C. And In One Or More States, During Any Period Of 12 Consecutive Months He Does Not Effect More Than 15 Purchases Or Sales In This State In Any Manner With Persons Other Than Those Specified above, Whether Or Not The Dealer Or Any Of The Purchasers Or Sellers Is Then Present In This State, Or An Issuer If The Security Or Transaction Is Exempt And The Exemption Has Not Been Denied Or Revoked, Or The Security Is Registered And Is Offered And Sole Through A Registered Dealer, Or All The Following Conditions Are Not: No Commission Or Other Remuneration Paid (Directly Or Indirectly) For Soliciting Any Prospective Purchaser In This State, And The Total Amount Of The Offering, And The Total Number Of Purchases, Both Within And Without This State Does Not Exceed $2,500,000 And 100, Respectively. A Security Is Issued By An Open-End Management Company And No Sales Load Is Paid Or Given. Because Of Numerous Exemptions For Securities And Transactions There May Be Many Occasions When firms/Individuals Would Not Be Required To Be Registered. For Further Details See G.S. 78A-16,17 & 18.
NC Department of the Secretary of State
Securities Division
2 South Salisbury St
Raleigh, NC 27601-2903
919-814-5400
Securities, Commodities, and Financial Services Sales Agents