Series 65: Post-Registration Requirements

Post-Registration Requirements

In addition to the ongoing requirement to file the appropriate renewal forms on an annual basis, broker-dealers must also meet ongoing requirements known as post-registration requirements. These requirements include:

• • Financial reports. Broker-dealers are required to file regular reports regarding their firm’s financial condition. If the information filed on these forms or on a firm’s Form BD becomes inaccurate at any point, updated reports must be filed promptly.
• • Recordkeeping. Broker-dealers must keep most forms of client records and marketing literature on file for three years, the first two years in an easily accessible place, even if the broker-dealer goes out of business. Some records must be kept for six years.
• • Audits. All broker-dealers are subject to audits by the states they’re licensed in, as well as federal regulators