APPLICATION PROCESS

Firms that are FINRA members or have applied for FINRA membership and are applying for licensing as a broker-dealer in Nevada shall file pages one and two of the Form BD with FINRA, making sure to designate Nevada as the state requested for licensing.  The registration fee for licensing in Nevada is $300.00, which will be deducted from the Firm's CRD account.

Out-of-state firms seeking to operate branch office in Nevada must file a Certificate of Authority to do Business in Nevada with the Corporations Division of the Secretary of State prior to obtaining a branch office license from the Securities Division.  Refer to our section on Branch Offices for additional information.

For Firms that are not FINRA members, an application for licensing as a broker-dealer in Nevada shall be filed with the Division, which shall include the following items:

1. A copy of Form BD with original signatures.
2. A Balance Sheet of the applicant prepared in accordance with generally accepted accounting principles ("GAAP") and accompanied by an auditor's report containing an unqualified opinion of an independent certified public accountant. The Balance Sheet shall have been prepared as of a date within sixty (60) days prior to the date on which application for registration is filed.
3. A fidelity bond in a form acceptable to the Division or membership in Securities Investor Protection Corporation ("SIPC").
4. A Form U-4, plus proof of passing the Series 63 or 66 exam and principal exams for a designated official of the broker-dealer.

RENEWAL PROCESS

Broker-dealer license renewals must be filed prior to December 31st of each year.  For broker-dealers that are members of FINRA, renewal is accomplished by sending the required fee under NRS 90.360 to the CRD.  For broker-dealers that are not members of FINRA, renewal is effected by submitting a written request for renewal, proof of bonding or SIPC membership, and a fee as determined by NRS 90.360.

WITHDRAWAL

A broker-dealer that is a member of FINRA may withdraw its license by filing a Form BDW in CRD.  A broker-dealer that is not a member of FINRA may withdraw its license by filing a Form BDW with the Division.

BONDING OF BROKER-DEALERS

All broker-dealers not members of FINRA or who are not registered under the Securities & Exchange Act of 1934 shall be bonded in the amount of $10,000.00 by a corporate bonding company qualified to do business in the state of Nevada under NAC 90.345.

Questions regarding the application, renewal, or withdrawal of broker-dealers may be directed to Licensing and Registration at 702-486-2440.