OFR Hurricane Updates

Dealers – Non-FINRA Member: Associated Person

Associated person of a dealer means any person who for compensation refers, solicits, offers, or negotiates for the purchase or sale of securities.

A person whose activities fall within this definition is required to register with the Office of Financial Regulation (OFR) as an associated person of a dealer pursuant to Section 517.12(1), Florida Statutes (F.S.).

The OFR will not register any person as an associated person of a dealer unless the dealer with which the associated person seeks registration is lawfully registered with the OFR.

Note: Registration as an associated person of a dealer does not constitute registration as an associated person of an investment adviser, or vice-versa. The two associated person registrations are separate and distinct.

Registration Requirements

The Florida Division of Securities utilizes the Regulatory Enforcement and Licensing (REAL) System for registration of associated persons of dealers not registered with the Financial Industry Regulatory Authority (Non-FINRA). This online system enables the Form U4, Uniform Application for Securities Industry Registration or Transfer, documents and fees to be submitted electronically. Additional filing requirements shall be submitted as prescribed in Section 517.12(10), F.S., and Rule 69W-600.0022, Florida Administrative Code (F.A.C.).

Paper applications received by the OFR will be returned to the applicant with instructions for filing electronically.

Required fingerprint submissions shall be filed electronically.

Apply via Online Services

Maintaining or Renewing Registration

Amendments to Form U4

If the information contained on the Form U4 becomes inaccurate for any reason, the Non-FINRA member dealer shall file an amendment on the Form U4 correcting the information within 30 days.

Amendment filings shall be made through Online Services.

Termination of Associated Person Registration

Non-FINRA member dealers shall file notices of termination for their associated persons on the Form U5, Uniform Termination Notice for Securities Industry Registration.

Termination filings shall be made through Online Services.

Renewal of Associated Person Registration

Renewal fees for associated persons of Non-FINRA member dealers shall be filed electronically through the REAL System of the OFR. It is incumbent upon the registrant, not the OFR, to ensure that the renewal payment is submitted timely. The renewal fee is $50 for each associated person.

Registrants should refer to Section 517.12(11), F.S., and Rule 69W-600.0022, F.A.C., for additional guidance.

Registrations for associated persons of Non-FINRA member dealers expire at the end of each calendar year and must be renewed timely for the registrant to remain registered to conduct business in, to or from Florida.

Forms

Form U4 - Uniform Application for Securities Industry Registration or Transfer - Form U4 Instructions

Form U5 - Uniform Termination Notice for Securities Industry Registration - Form U5 Instructions

Form OFR-MIL-001 – Active Military Member/Veteran/Spouse Fee Waiver and Military Service Verification

Statutes and Rules

Applicants for registration as an associated person of a Non FINRA member dealer are subject to the requirements found in Chapter 517, F.S., the Florida Securities and Investor Protection Act, and the administrative rules, Sections 69W-100 through 69W-1000, F.A.C.