BROKER-DEALER REGISTRATION PACKET
REQUIREMENTS AND FEES:
- Applicants shall at all times have at least one designated principal at the main office. Please provide the name and CRD number for the individual who will serve as the designated principal for New Mexico with your application. This individual must be registered in the state.
- Filing Fees (submitted through FINRA):
- $300 for broker-dealer firm registration
- $ 50 for each broker-dealer agent registration
NOTE: The designated principal is considered an agent for fee purposes.
- Financial statements, including net capital computation, dated no more than ninety (90) days prior to filing date. The filing date is the date the firm applies for registration via the Web CRD system.
NOTE: After registration approval, you are not required to send annual audited financial statements.
- An Affidavit of No Sales certifying the applicant has not transacted securities business in New Mexico during the time the firm was not licensed in the state. CLEARING BROKERS WILL BE CONTACTED TO VERIFY THE ACCURACY OF THE AFFIDAVIT OF NO SALES.
- Name, address and contact person for the firm’s clearing broker.
- Form U-2 Uniform Consent To Service Of Process
- A list of all branch offices in New Mexico with the name and qualifications of the resident manager. If there are none, please address in cover letter.
- Please include an email address to be used by the Division for notifications of regulatory updates.
Any application for registration which is not completed or withdrawn within six months from the date it is initially received may be deemed materially incomplete, and the Director may issue an order denying the registration.
Each broker-dealer representative and designated principal must have successfully passed, within the last two (2) years, the USASLE Series 63 examination or Series 66, and a securities examination for representatives (Series 6, Series 7, etc.).
The designated principal must also have passed a securities examination for principals (Series 24, Series 26, etc.).
If examinations were not passed within two (2) years prior to application, applicants must have been licensed as broker-dealers or broker-dealer representatives within the last two (2) years under the laws of another state requiring such examinations.
SEND FORMS TO:
New Mexico Securities Division
Nancy Huerta, Compliance Officer
Broker Dealer Section
PO Box 25101
Santa Fe, New Mexico 87505
Renewal: Due Date: December 31st of each year and submitted through CRD
Fee: Same as initial fees (as stated #2 above)
(Revised January 2014)