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

• Form BD, the Broker Dealer Application 
• A $200 initial registration fee

If the information provided on Form BD becomes inaccurate for any reason, the registrant must file an amendment to the Form BD within 30 days through the CRD system. Annual renewals are due on December 31st along with a $200 renewal fee and must be filed via FINRA’s CRD system .

No person shall be registered as an investment adviser or a broker-dealer unless at least one person employed full time in a supervisory capacity, by the applicant for a license, was actively engaged in the securities business in a similar supervisory capacity for a minimum of three of the preceding five years (Minnesota Admnistrative Rules, 2876.4120 Examination Requirements). 

Every broker-dealer registered or required to register under the Minnesota Securities Act shall at all times have and maintain net capital in compliance with Code of Federal Regulations, title 17, section 240.15c 3-1.  See Minnesota Rule 2876.4112

• Form U-4
• $65

Annual renewals are due on December 31st.   Effective July 1, 2017, renewals, along with a $65 renewal fee, must be submitted via FINRA’s CRD system.

The application for initial registration must also include proof of compliance by the investment adviser representative with the examination requirements of the Uniform Investment Adviser Law Examination (Series 65) or the Uniform Combined State Law Examination (Series 66).

Registered representatives can extend their qualification examinations (Series 63 and 66*)  through the Exam Validity Extension Program (EVEP) for a period up to five years by opting into the program, paying an annual fee and maintaining certain continuing education requirements.  This will benefit the individual when they reenter the industry and apply for registration

*The Series 66 exam qualifies individuals in two capacities, as a representative of both a broker-dealer and an investment adviser. To extend both parts of the Series 66 exam, an individual must enroll both Series 63 and Series 65 credits, if applicable.

Requirements:

• Agent Exam Validity Extension Program 
• Agent/Investment Adviser Representative EVEP