Okla. Admin. Code § 660:11-5-45

Current through Vol. 41, No. 19, June 17, 2024

Section 660:11-5-45 - Financial statements for non-FINRA broker-dealers

(a)Required financial statements. Applications for registration for non-FINRA member broker-dealers shall contain audited financial statements for the applicant as of the end of its last fiscal year. Applicants that have commenced operating, but have been in operation for less than twelve (12) months shall submit an unaudited statement of financial condition as of a date within ninety (90) days of the date of the filing of the application and an unaudited statement of income for the period beginning from the date of inception through the date as of which the statement of financial condition is prepared.

(b)Net capital computation. Financial statements submitted by or on behalf of a broker-dealer shall include a statement of net capital for the broker-dealer and a schedule presenting a computation of net capital as of each statement of financial condition date. The computation of net capital shall be calculated according to the formula established by the SEC in 17 CFR 240.15c3-1.

(c)Waiver. The Administrator in the Administrator's discretion may waive any of the requirements of this section on a case-by-case basis when such action is determined to be consistent with the purposes fairly intended by the policy and provisions of the Securities Act. Requests for waivers shall be in writing setting forth the reasons therefor.

Okla. Admin. Code § 660:11-5-45

Added at 21 Ok Reg 2532, eff 7-1-04

Amended by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/15/2022