N.J. Admin. Code § 13:47A-1.6

Current through Register Vol. 56, No. 24, December 18, 2024

Section 13:47A-1.6 - Minimum net capital

(a) No registration as a broker-dealer shall be issued unless the applicant has a minimum net capital or has posted with the Bureau a surety bond in the amount of the minimum net capital. The minimum net capital shall be as required by Section 15 of the Securities Exchange Act of 1934 ( 15 U.S.C. § 78o ) and rules promulgated thereunder.

(b) Computation of net capital shall be in accordance with rules promulgated by the Securities and Exchange Commission, unless the Bureau Chief prescribes otherwise by rule or order.

(c) Reporting of net capital by a broker-dealer shall be made as part of the application for registration with the CRD in the case of broker-dealers eligible for such registration. If the CRD registration form does not provide for reporting of net capital as set forth in this section, or if the registration is filed directly with the Bureau of Securities because CRD registration is not available to the applicant, then the reporting of net capital shall be made by a supplemental filing made directly to the Bureau of Securities concurrently with the broker-dealer application.

N.J. Admin. Code § 13:47A-1.6

Amended by R.1992 d.435, effective 11/2/1992.
See: 24 N.J.R. 2524(a), 24 N.J.R. 4060(a).
Revised (a)-(c); added (d)-(e). Recodified from 13:47A-1.5. Old 13:47A-1.6 Bonds recodified to 13:47A-1.7.
Amended by R.1997 d.451, effective 10/20/1997.
See: 29 N.J.R. 3119(a), 29 N.J.R. 4463(a).
Rewrote (a); deleted existing (b) and (c); and recodified existing (d) and (e) as (b) and (c).
Amended by R.2008 d.301, effective 10/6/2008.
See: 40 N.J.R. 2061(a), 40 N.J.R. 5820(a).
In (a), deleted "therefor" following "applicant" and "of Securities" following "Bureau" and substituted "Section" for "§" and "§78o" for "§78".