Minnesota Statute 80A.41 defines a broker dealer as, “a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account.”
The Minnesota Department of Commerce – Securities Unit is responsible for licensing broker dealer firms, the securities they issue, and the resident broker dealer representatives selling the securities. Minnesota is home to the headquarters and branch locations of national broker dealer firms and 100,000 individual brokers fall under our jurisdiction.
The Securities Unit is responsible for the oversight and enforcement of broker dealer licensing and the registration of individual broker dealer representatives, their firms and the securities they sell as defined by Minnesota Statutes 80A.56 and 80A.57 to:
This section of our website is designed to provide broker dealers with information concerning:
Frequently Asked Questions
Licensing and Registration
Broker Dealer and Agent Look-up
Recent Events Impacting Broker Dealers