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Broker-Dealer Certificate
License Description Any person engaged in the business of effecting transactions in securities in California. Note: There are certain exclusions from definition of broker-dealer (Corporations Code Section 25004). There are also various exemptions from the certification requirements (Corporations Code Section 25210) for certain broker-dealers. Fees: Initial Application: $300. Annual Assessment: Minimum $75. Examination Frequency: Contact the Financial Industry Regulatory Authority (FINRA), successor to the National Association of Securities Dealers Regulation, Inc. (NASDR), concerning examination frequency. Exam Locations: Examine locations are determined by the FINRA. Experience Requirement: N/A Average Time to Process Application: Form BD (Uniform Application for Broker-Dealer Registration): 30 - 45 days; Application by Notification [Pursuant to Corporations Code Section 25211(b)]: Three (3) business days after application has been filed with the Commissioner or upon the day certificate is issued, whichever occurs first. Renewal Period: December 31 of each year. Special License Requirements: Every individual who is a broker-dealer, or compliance supervisor or reported agent of a broker-dealer shall pass the Uniform Securities Agent State Law Examination (Series 63) or the Uniform Combined State Law Examination (Series 66) and meet all applicable examination requirements of the Securities and Exchange Commission and the self-regulatory organization of which the broker-dealer is a member. Any person who intends to become a broker-dealer in California must apply for a broker-dealer certificate by filing an application. The application (Form BD) should be filed directly with the Central Registration Depository ("CRD"). Authority: Corporations Code, Sections 25210, 25211 and 25217.
Licensing Agency
Department of Financial Protection and Innovation
Sacramento Office
2101 Arena Boulevard
Sacramento, CA 95834
(866) 275 2677
ask.dfpi@dfpi.ca.gov
Active Status Active
Continuing Education Continuing education required to maintain license
Criminal Record Felony convictions prohibited
Education Specific course required
Exam Third-party exam required
License Type Register with licensing agency
License Updated 08/09/2023
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