Renewals

FINRA Member Firms

Renewal applications for FINRA member broker-dealers are handled by the CRD. Renewal rosters containing the fees for all jurisdictions in which the firm is currently registered as well as each securities agent and branch office, 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 the firm and all of its agents will be terminated at year-end. CRD will post complete payment instructions when the renewal roster is made available.

The fees for renewal are:

• $200 for the firm
• $80 for each licensed securities agent
• $80 for each branch office located in Wisconsin.

The firm must pay the full amount indicated on the Preliminary Renewal Roster. Any agents or branches that are added or deleted between the Preliminary Renewal Roster and CRD shutdown will be reconciled on the Final Renewal Roster and billed accordingly by CRD. If the firm fails to pay all of its fees due on the Preliminary Renewal Roster, NO firm or agent or branch renewals will be processed and the firm will be treated as a Fail to Renew.

If renewal fees are not received by the CRD deadline, the firm must send its renewal payment for the firm directly to the Division and will be subject to a delinquent filing fee of $100.00 (s. DFI-Sec 7.01(6)(a), Wis. Adm. Code). The firm will then have to submit new U4s for each agent to be registered in Wisconsin and a new Form BR for each Wisconsin branch office.

The Division has traditionally given firms until January 15th to complete its late renewal filing, including late fees. After that date, the firm must make a new initial filing and will be subject to the $400 initial filing fees as well as providing additional information about its activities. The firm CANNOT conduct any business in Wisconsin until its registration has been approved.

NON-FINRA Member Firms

Renewal applications for NON-FINRA 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
• $80 for each registered securities agent
• $80 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.
• 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 registration to be renewed

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

Updated May 1, 2010