License Minnesota

Investment Adviser

Minnesota Department of Commerce

Agency contact information:

Commerce, Minnesota Department of
85 7th Place East, Suite 500
St. Paul, MN 55101
(651) 539-1600 | (800) 857-3602
Securities Registration - Investment Adviser: (651) 539-1638
(651) 539-1638
Contact Info: securities.commerce@state.mn.us

Website:

Minnesota Department of Commerce

Investment Advisers and their Representatives

Securities, Franchises & Subdivided Lands

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The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.

Statutes:

Minn. Stats. 80A

Rules:

MINNESOTA RULES 2876.

Forms:

Forms requirements for Investment Adviser initial registration:

The following forms and fees must be completed and filed through the  CRD  system

Form ADV

Part 2A (Brochure)

Part 2B (Brochure Supplement)


Form requirement for Investment Adviser Representative initial registration:

Form U4, the Uniform Application for Securities Industry Registration

Requirements:

Persons who meet the statutory definition(s) of Investment Adviser and/or Investment Adviser Representative found in Minn. Stat. § 80A.41 (16) & (17) generally must register with the Minnesota Department of Commerce. Registration requirements, as well as exemptions from registration, are defined in Minn. Stats. §§ 80A.5880A.61 and applicable rules in Minn. Rules Chapter 2876.  The registration requirements are summarized below. 


How to Register as an Investment Adviser

A person wishing to register an Investment Adviser in Minnesota must complete and file Form ADV Parts 1 and 2 on the Investment Adviser Registration Depository (IARD) electronic system. These forms should be completed according to the official Form ADV instructions, available on the IARD Help & Training section of the website.


How to Register as an Investment Adviser Representative

A person wishing to register as an Investment Adviser Representative in Minnesota must complete and file Form U4 on the FINRA Central Registration Depository (CRD) system.  This form should be completed according to the official Form U4 instructions, available on the CRD website.  


Additional registration information for advisers and adviser representatives is available at Investment Advisers and their Representatives.

Fee:

Investment Adviser fee - $100

Period of Issuance:

Annual

Other Pertinent Information: