21 Va. Admin. Code § 5-20-30

Current through Register Vol. 41, No. 2, September 9, 2024

Section 21VAC5-20-30 - Renewals

A. To renew its registration, a FINRA member broker-dealer will be billed by CRD the statutory fee of $200 prior to the annual expiration date. A registration renewal shall be granted as a matter of course upon payment of the proper fee unless the registration was, or the renewal would be, subject to revocation under § 13.1-506 or nonrenewal under § 13.1-505E.

B. Any non-FINRA broker-dealer shall file with the commission at its Division of Securities and Retail Franchising the following items at least 30 days prior to the expiration of registration:

1. Application for Renewal of a Broker-Dealer's Registration (Form S.A.2) accompanied by the statutory fee of $200.

2. Financial Statements:

a. The most recent certified financial statements prepared by an independent accountant in accordance with generally accepted accounting principles, as promulgated by the American Institute of Certified Public Accountants. "Certified Financial Statements," "Financial Statements" and "Independent Accountant" shall have the same definition as those terms are defined under subsection B of 21VAC5-20-80.

b. If the most recent certified financial statements precede the date of renewal by more than 120 days, the registrant must submit the certified financial statements required by subdivision 2 a of this subsection within 60 days after the date of the financial statements.

c. Whenever the commission so requires, an interim financial report shall be filed as of the date and within the period specified in the commission's request.

21 Va. Admin. Code § 5-20-30

Derived from Rule 202, Case No. SEC810005, eff. July 1, 1981; amended by Case No. SEC830011, eff. July 1, 1983; Case No. SEC840009, eff. October 5, 1984; Case No. SEC890040, eff. July 1, 1989; Virginia Register Volume 13, Issue 25, eff. September 1, 1997; Volume 17, Issue 20, eff. July 1, 2001; Volume 29, Issue 20, eff. June 3, 2013.

Statutory Authority

§§ 12.1-13 and 13.1-523 of the Code of Virginia.