Renewals

NASD Member Firms

Renewal applications for NASD member broker-dealers are handled by the CRD. Renewal rosters containing the fees for all jurisdictions in which the firm is currently licensed as well as each securities agent, are available electronically via the CRD in November of each year. The CRD sets a deadline date in December when firms must have their renewal payments completed. Firms that fail to meet the deadline to deposit sufficient funds with the CRD will be listed as Failed to Renew and will be terminated at year-end. CRD will send out complete payment instructions with the renewal roster.

The fees for renewal are:

$200 for the firm
$30 for each licensed securities agent
$30 for each branch office located in Wisconsin.

For 2006, branch office renewal notices will continue to be sent out by the Division in the middle of October, 2005 and are due back to the Division by November 30, 2005 or the closest working day prior to that date. The date they are actually received in the Division is the date they are deemed filed. The date of the postmark will NOT be accepted. 2006 branch office renewals will NOT be accepted or processed via CRD.

If renewals are received after the due date, the firm will be subject to a delinquent filing fee of $100.00 per branch (s. DFI-Sec 7.01(7)(a), Wis. Adm. Code).

The branch office renewal application consists of the following information:

Name of the applicant
List of branch offices
Name and telephone number of the person to contact regarding the renewal form

The home office of the firm has not been considered as a branch office up until this year. However, changes to the NASD definition of branch office in 2005 now require home offices where sales activity regularly takes place to also be registered with the NASD as a branch office. Because Wisconsin’s branch office definition is based on the NASD definition, those home/sales offices must now be filed as Wisconsin branch offices. Also, because firms have until May 1, 2006 to make their filings for these offices, the Division will not charge a 2005 branch office fee for any home/branch filings made in 2005. Beginning with 2006, those home/branch offices will be subject to the same $30 filing fee as other branches. The branch office filing requirement applies only to offices located in Wisconsin.

NON-NASD Member Firms

Renewal applications for NON-NASD member broker-dealers are filed directly with the Division. Renewal notices are sent out by the Division in the middle of October and are due back to the Division by December 1st, or the closest working day prior to that date. The date they are actually received in the Division is the date they are deemed filed. The date of the postmark will NOT be accepted.

The fees for renewal are:

$200 for the firm
$30 for each licensed securities agent
$30 for each branch office located in Wisconsin

If renewals are received after the due date, the firm will be charged a delinquent filing fee of $100.00. (s. DFI-Sec 7.01(6)(a), (d) & (f), Wis. Adm. Code)

The renewal application consists of the following information:

Full name, address and phone number of applicant, mailing address if different.
A copy of the most recently amended Form BD if not previously submitted to this Division.
Branch office information to include; address, telephone number and the name of the branch manager or contact person located at the branch office. The home office of the firm should not be listed as a branch office.
Branch office information to include; address, telephone number and the name of the branch manager or contact person located at the branch office, the home office of the firm should not be listed as a branch office.
The name, title, business address and phone number of the individual to contact regarding the renewal application.
Complete name and social security number of each securities agent license to be renewed

No annual reports or other financial information are required to be filed with the renewal.