Any person who intends to become a broker-dealer in California may apply for a broker-dealer certificate investment advisers act rules filing an application. If you are not a member of FINRA , the application should be filed directly with the Department of Business Oversight. Verification Form Pursuant to California Code of Regulations Rule 260.
California for more than five clients should file a notice with the Department of Business Oversight. For information concerning the CCR and accessing sections of the CCR referenced on these web pages, click here. Any person who wants to become an investment adviser in California may apply for an investment adviser certificate by filing an application. The forms and instructions for filing an application are found below. To file electronically with IARD, you will need to obtain, complete and return the entitlement forms. These forms may be found on the IARD web site at www.
For further information, please visit the IARD web site. Whenever the context requires it, “division” or “division of securities” may be read as “director of commerce” or as “commissioner of securities. Security” means any certificate or instrument, or any oral, written, or electronic agreement, understanding, or opportunity, that represents title to or interest in, or is secured by any lien or charge upon, the capital, assets, profits, property, or credit of any person or of any public or governmental body, subdivision, or agency. Sale” has the full meaning of “sale” as applied by or accepted in courts of law or equity, and includes every disposition, or attempt to dispose, of a security or of an interest in a security. Sell” means any act by which a sale is made.
The offering of securities by any person in conjunction with a licensed dealer by use of advertisement, circular, or pamphlet is not a sale if that person does not otherwise attempt to sell securities in this state. Any security given with, or as a bonus on account of, any purchase of securities is conclusively presumed to constitute a part of the subject of that purchase and has been “sold. Sale” by an owner, pledgee, or mortgagee, or by a person acting in a representative capacity, includes sale on behalf of such party by an agent, including a licensed dealer or salesperson. Licensed dealer” means a dealer licensed under this chapter. Salesman” or “salesperson” means every natural person, other than a dealer, who is employed, authorized, or appointed by a dealer to sell securities within this state. Licensed salesperson” means a salesperson licensed under this chapter. Issuer” means every person who has issued, proposes to issue, or issues any security.