It's that time of the year again…time to renew your registration and/or notice filing with the State of Texas for the 2012 calendar year. Please note the following:
CRD/IARD SYSTEM USERS:
On November 14, 2011, online Preliminary Renewal Statements were made available in Web CRD®/IARD™ via their Renewal Program which facilitates the registration renewal process for broker-dealer (BD) and investment adviser (IA) registrations as well as for their associated persons with participating regulators. This annual program simplifies the renewal of registrations with the payment of one amount to FINRA by December 12, 2011, the payment deadline for Preliminary Renewal Statements. Firms must successfully renew their registrations to ensure continued eligibility to conduct business after January 1, 2012. Firms that are joint BD/IA should also review the renewal information provided for IA firms on the IARD website.
To view your preliminary statement, please take this time to check your account details screen on the CRD/IARD System as well as any email notifications you received from FINRA regarding the renewal process. Please ensure that you fund your renewal account the appropriate amount of renewal fees in order to renew your registration and/or notice filing for the 2012 calendar year. Renewal fees are due in your FINRA renewal account by December 12, 2011 to avoid any lapses in registration.
NON-FINRA MEMBER REGISTRANTS (i.e, Finders and Business Brokers):
For those nonFINRA member dealers that do not use the CRD system, renewal statements were sent to you directly from this Agency on November 10, 2011. You must return the form and appropriate renewal fees by December 16, 2011. Our mailing address is:
Texas State Securities Board
P.O. Box 13167
Austin, TX 78711
OR
Express Delivery:
Texas State Securities Board
208 E. 10th Street, 5th Floor
Austin, TX 78701
Note: For non-FINRA member dealers - if you try to amend your Certificate of Registration during the renewal process (i.e., change your address, name or designated officer), you will be notified by the Agency for additional documents and appropriate fees.
FAILURE TO PAY BY DEADLINE:
Any firm who fails to pay their renewal fees by the established deadline will be considered "Fail To Renew" (FTR). The Texas Securities Act ("Act") affords the opportunity to firms and their agents/IA reps to renew after January 1, 2012; however, doing so incurs penalty fees in addition to the renewal fees.
If the firm and their respective representatives renew between January 1 and March 31, 2012, the firm and each representative will be required to pay all unpaid renewal fees for 2012, plus penalty fees that equal half the original filing fees. For your convenience, the renewal fee is $270 for the firm and $275 for each representative, plus the penalty fee during this 90 day period of $137.50 for the firm and $142.50 for each representative.
If the firm and their respective representative(s) file subsequent to March 31, 2012, the firm and each of its representatives will pay all unpaid renewal fees of $270 for the firm and $275 for each representative, plus penalty fees in the amount of the original filing fees which are $275 for the firm and $285 for each representative.
Any activity that is conducted during the time that the firm and representatives are unregistered is a violation of the Act. The Agency may take an administrative action in addition to the penalties that were incurred by the firm.
(November 28, 2011)