Broker-Dealer Registration Form - State Of Missouri (Page 5 of 9) in pdf

Broker-Dealer Registration Form - State Of Missouri Page 5

POST-EFFECTIVE REQUIREMENTS

FOR BROKER-DEALERS

The following outline discusses the most frequently asked questions about Missouri’s post-

effective registration requirements.

NET CAPITAL REQUIREMENTS

A broker-dealer registered or required to be registered under the Missouri Securities Act of 2003

shall maintain net capital requirements in accordance with rule 15c3-1 under the Securities

Exchange Act of 1934. See 15 CSR 30-51.050(1).

Broker-Dealer Notice of Net Capital Deficiency. Broker-dealers registered with the

Securities and Exchange Commission and subject to rule 15c3-1 of the Securities

Exchange Act of 1934 whose net capital at any time is less than the minimum required by

any net capital rule to which a person is subject shall give notice and file such reports

with the commissioner as are required to be given and filed with the Securities and

Exchange Commission under Regulation 17a-11 of the Securities Exchange Act of 1034.

See 15 CSR 30-51.060(1).

A broker-dealer not in compliance with the aggregate indebtedness, net capital, or

cash reserve requirements shall cease soliciting new business and shall immediately

notify the Commissioner of Securities in writing. See 15 CSR 30-51.050(3).

AMENDMENTS

Every broker-dealer and broker-dealer agent must file written notification of any material change

in documents filed with the Commissioner within 30 days of such change. Amendments to

electronically-filed forms should be submitted to the CRD System. See 15 CSR 30-51.160(3).

TERMINATION

The following forms must be filed to terminate registration in Missouri:

1. Broker-Dealers: Form BDW.

2. Broker-Dealer Agents: Form U-5 (must be filed within thirty days of termination – see

15 CSR 51.160(3)(B)).

EXPIRATION

1. Every registration of a broker-dealer or broker-dealer agent expires on December 31 of

each year, unless renewed or unless sooner revoked, cancelled, or withdrawn. See 15

CSR 30-51.160(2)(A).

Missouri Broker-Dealer Registration, p. 6

Broker-Dealer Registration Form - State Of Missouri Page 5