Mich. Admin. Code R. 451.4.7 - Application for registration by broker-dealers and agents representing broker-dealers
Rule 4.7.
(1) The
application for initial registration of a broker-dealer pursuant to section 406
of the act, MCL 451.2406, must be made by completing Form BD pursuant to the
forms instructions and by filing the form electronically with CRD. The
application for initial registration must also include both of the following:
(a) Proof of compliance by the broker-dealer
with the examination requirements of R 451.4.9.
(b) The fee required by section 410 of the
act, MCL 451.2410.
(2)
Pursuant to section 406 of the act, MCL 451.2406, the application for initial
registration of agents representing a broker-dealer must be made by completing
Form U4 pursuant to the forms instructions and by filing the form
electronically with CRD, except that a paper filing may be accepted by the
administrator for a broker-dealer that does not register with FINRA, for an
agent who is associated with a broker-dealer that does not register with FINRA,
and for an agent who is associated solely with an issuer. The application for
initial registration must also include both of the following:
(a) Proof of compliance by the agent
representing a broker-dealer with the examination requirements of R
451.4.9.
(b) The fee required by
section 410 of the act, MCL 451.2410.
(3) To renew a registration as a
broker-dealer, or an agent representing a broker-dealer, the registrant shall
submit to CRD the fee required by section 410 of the act, MCL
451.2410.
(4) A broker-dealer shall,
within 30 days of any event requiring an amendment, file electronically with
CRD any amendments to the broker-dealers Form BD pursuant to the forms
instructions.
(5) An agent
representing a broker-dealer shall, within 30 days of any event requiring an
amendment, file electronically with CRD any amendments to the agents Form U-4
pursuant to the forms instructions.
(6) An application for initial or renewal
registration is not considered filed for purposes of section 406 of the act,
MCL 451.2406, until the required fee and all required documents have been filed
with the administrator.
Notes
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