accessIndiana

What do I file on the CRD to become registered?

• Form BD
• U4 for agents

• broker dealer application
• audited financials - if this is a new broker dealer, the minimum requirement is an unaudited financial report prepared within the previous 60 days
• FOCUS I or II

• S7 and S63
• any of the following may substitute for the S7: S6, S17, S22, S42, S52, S62, or S72
• the S66 may substitute for the S 63

• S24
• S40 or S00 is acceptable if passed prior to effectiveness of S24 requirement
• either the S26 or S39 may substitute for the S24

• an agent must not have a gap of more than two years of non-registration within the jurisdiction
• if the gap is more than two years, the exams must be repeated

• if the prospective agent wishes to have its test requirement waived, a written waiver request must be sent to the Commissioner
• criteria under which a waiver may be granted is in 710 IAC 1-15-2

• Dual registration occurs only when the agent is pending in Indiana with one firm and is approved in Indiana with another firm
• When an agent moves from one company to another, we cannot approve registration with the new company until the old company submits the U-5 for the prospective agent through the NASD
• An agent wishing to be employed with two different companies must submit to the Securities Division letters from both companies showing consent of the dual registration.

• Each branch must be supervised by an Office of Supervisory Jurisdiction either inside or outside of Indiana

• Due on request by the Securities Division. See rule removing the requirement for annual reports: LSA Document #06-135