Broker-Dealer Registration
Broker-dealers are entities that are registered to buy or sell securities for investors in the state of Kentucky. To register initially as a broker-dealer in Kentucky, a firm must submit a Form BD - Uniform Application for Broker-Dealer Registration and a $120 filing fee to the Central Registration Depository (CRD).
A registered broker-dealer must have at least one agent registered in Kentucky.
An entity with no office and no agent located in Kentucky may handle up to 15 transactions, purchases or sales for Kentucky investors without registering.
A broker-dealer shall promptly file an amendment with the CRD if the information contained in its Form BD becomes inaccurate or incomplete in any material respect.
To renew a registration, a broker-dealer shall submit a fee of $120 to the CRD.
To terminate a broker-dealer registration, a firm should file a Form BDW - Uniform Request for Broker-Dealer Withdrawal through the CRD system.
Note: Any Broker-Dealer (BD) that is also an Investment Adviser (IA) or “covered adviser” must either register as an IA under KRS 292.330 or file notice as a “covered adviser” under KRS 292.332. There is no longer a registered BD exemption from the registration or notice filing requirements for investment advisers.
Note: Broker-dealers are not required to submit annual reports to the Department of Financial Institutions.
For More Information
Contact Anthony Murphy at (502) 782-9062 with questions about broker-dealer registration requirements.
Contact Lindsey Stout at (502) 382-7428 with questions about compliance issues.
Broker-Dealer Registration
Broker-dealers are entities that are licensed to buy or sell securities for investors in the state of Kentucky. To register initially as a broker-dealer in Kentucky, a firm must submit a Form BD - Uniform Application for Broker-Dealer Registration and a $120 filing fee to the Central Registration Depository (CRD).
A registered broker-dealer must have at least one agent registered in Kentucky.
An entity with no office and no agent located in Kentucky may handle up to 15 transactions, purchases or sales for Kentucky investors without registering.
A broker-dealer shall promptly file an amendment with the CRD if the information contained in its Form BD becomes inaccurate or incomplete in any material respect.
To renew a registration, a broker-dealer shall submit a fee of $120 to the CRD.
To terminate a broker-dealer registration, a firm should file a Form BDW - Uniform Request for Broker-Dealer Withdrawal through the CRD system.
Note: Any Broker-Dealer (BD) that is also an Investment Adviser (IA) or “covered adviser” must either register as an IA under KRS 292.330 or file notice as a “covered adviser” under KRS 292.332. There is no longer a registered BD exemption from the registration or notice filing requirements for investment advisers.
Note: Broker-dealers are not required to submit annual reports to the Department of Financial Institutions.
For More Information
Contact Anthony Murphy at (502) 782-9062 with questions about broker-dealer registration requirements.
Contact Lindsey Stout at (502) 382-7428 with questions about compliance issues.
