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Broker-Dealer Registration Requirements

1. Registration Fee

The initial registration fee is $300.00. The fee payment should be made by way of the CRD System.

2. Fidelity Bond Information

If Applicant has obtained its bond through the FINRA group purchase program, please send a copy of the bond's declaration (front) page. The bond should show the Applicant's name as covered. If the Applicant is SIPC-Exempt, please state so in writing.

3. Financial Statements

Applicants in business less than one year must provide a copy of a current statement of financial condition (or balance sheet) which may be unaudited. Such statement shall be certified as true and correct by the Chief Financial Officer if the Applicant. Applicants in business one year of more from the date the application is received by the Department must provide a copy of the latest comprehensive audited financial statements.

Registered broker-dealers must file with the Commissioner annual audited financial statements no later than ninety (90) days after the close of the fiscal year unless permission to file at some other date has been granted.

4. Resolution of Firm

Resolution authorizing the application to be executed by the person signing on page 1 of Form BD. Form U2-A is not an appropriate form.

Click Below For Blank Form:

Resolution of Firm Form

5. Principal Designation Letter

Letter designating individual(s) desired as registered Principal(s) for the State of Arkansas.

Principal Designation Letter

6. Independent Contractor Information

Independent contractor acknowledgment (required of all Applicants). See Independent Contractors Memorandum.

Click Below For Blank Form:

I.C. Memorandum

 

7. Uniform Application Form U-4 Information

Initial principal and agent applications for a broker-dealer registered (or to be registered) with the FINRA must be submitted directly to the CRD system on a Uniform Application Form U-4 along with the initial agent registration fee of $75.00.

Applicant will not be approved until a principal is ready for approval via the CRD system.

Additional exhibits or information not specifically required by such applicant but essential to a full presentation of all material facts relating to an applicant's qualifications shall be furnished and properly executed if requested by the Commissioner.

8. Arkansas Resident Principal Designation Letter

Each broker-dealer which has a branch office located in Arkansas shall designate at least one (1) principal who is a resident of this state. A broker-dealer with more than one branch office located in Arkansas may designate more than one (1) resident principal and specify the branch office or offices for which each resident principal has supervisory responsibility.

Arkansas Resident Principal Designation Letter

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