Wash. Admin. Code § 460-20C-050 - Expiration and renewal of registration
(1) Expiration
date.
(a)
Broker-dealers.
(i) If you are a broker-dealer registered
under RCW
21.20.040, your registration will be
effective until December 31st of the year of issuance.
(ii) If you are a member of FINRA and you do
not file an application to renew your broker-dealer registration by the
deadline to submit renewal applications through CRD for the year, or if you are
not a member of FINRA and do not file an application to renew your
broker-dealer registration by December 31st, your registration will be
considered delinquent and subject to the provisions in subsection (3)(a) of
this section. If you do not renew your delinquent registration on or before
March 1st of the following year, your registration will be considered to have
terminated as of December 31st of the previous year.
(b)
Salespersons.
(i) If you are registered as a salesperson of
a broker-dealer pursuant to
RCW
21.20.040, your registration will be
effective until December 31st of the year of issuance.
(ii) If you are a salesperson of a
broker-dealer that is a member of FINRA and you do not file an application to
renew your registration by the deadline to submit renewal applications through
CRD for the year, or if you are a salesperson of a broker-dealer that is not a
member of FINRA and you do not submit an application to renew your registration
by December 31st, your registration will be considered delinquent and subject
to the provisions in subsection (3)(b) of this section. If you do not renew
your delinquent registration on or before March 1st of the following year, your
registration will be considered to have terminated as of December 31st of the
previous year.
(2) Renewal procedure.
(a)
Broker-dealers.
(i)
FINRA members. If you are a
broker-dealer who is a member of FINRA, you may renew your broker-dealer
registration in Washington by filing the following through CRD prior to the
renewal filing deadline set annually by FINRA:
(A) Any renewal application required by CRD;
and
(B) The renewal fee set forth
in WAC 460-05A-010
(1)(a); or
(ii)
Nonmembers of FINRA. If you
are a broker-dealer who is not a member of FINRA, you may renew your
broker-dealer registration in Washington by filing the following with the
director no later than December 1st:
(A) Form
BD updated to reflect any material changes;
(B) A balance sheet dated not more than 120
days before the date of filing, and a computation of your net capital and your
aggregate indebtedness ratio as of the same date as the balance sheet. If your
net capital is not sufficient, you may satisfy the net capital requirement in
WAC 460-20C-110 with a surety bond; and
(C) The renewal fee set forth in WAC
460-05A-010
(1)(a).
(b)
Salespersons.
(i)
Salespersons for members of
FINRA. If you are registered under
RCW
21.20.040 as a salesperson of a broker-dealer
that is a member of FINRA, you may renew your salesperson registration in
Washington by filing the following through CRD prior to the renewal filing
deadline set annually by FINRA:
(A) Any
renewal application required by CRD; and
(B) The renewal application fee set forth in
WAC 460-05A-010
(1)(c); or
(ii)
Other salespersons for
broker-dealers. If you are registered under
RCW
21.20.040 as a salesperson of a broker-dealer
that is not a member of FINRA, you may renew your salesperson registration in
Washington by submitting the following directly to the director by December
1st:
(A) An updated Form U4; and
(B) The renewal application fee set forth in
WAC 460-05A-010
(1)(c).
(3) Delinquent renewal procedure.
(a)
Broker-dealers. If you are a
broker-dealer registered under
RCW
21.20.040, and you filed a renewal
application that was received by the director after the final date to submit
renewal applications for the year as set forth in subsection (2)(a) of this
section, but on or before March 1st of the next year, you must pay a
delinquency fee of $100 as set forth in
RCW
21.20.340(8) in addition to
the renewal fee. The delinquent renewal application and fees must be submitted
directly to the director. No renewal applications will be accepted
thereafter.
(b)
Salespersons. If you are currently registered as a salesperson of
a broker-dealer and the director receives your renewal application after
deadlines set forth in subsection (2)(b) of this section but on or before March
1st of the next year, you must pay a delinquency fee of $100 as set forth in
RCW
21.20.340(8) in addition to
the renewal fee. The delinquent renewal application and fees must be submitted
directly to the director. No renewal applications will be accepted
thereafter.
Notes
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