Termination of a Broker-Dealer’s Registration

As previously mentioned, registration as a broker-dealer is by no means permanent. At bare minimum, state and federal approval to operate can terminate on December 31st of any year simply because a broker-dealer forgets to submit their renewal paperwork. But a broker-dealer’s registration can terminate or be restricted for a variety of other reasons including:

• • Denial – Naturally, if a state’s administrator has reason to believe an applicant would not serve the best interests of the public (such as if they are unqualified), an application can be denied outright.
• • Revocation â