Registration of Broker-dealers
 

FINRA members. Unless exempt from federal registration requirements1, to register as a broker-dealer in Oklahoma, the applicant must file through the Web Central Registration Depository (WebCRD) System that is operated by the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization. If already a FINRA member, click on the Firm Gateway link to sign in to your account.

NOTICE:

Firms that are members of the Financial Industry Regulatory Authority (FINRA) are asked not to submit Audited Financial Statements to the Department as these are no longer required as a post-registration reporting requirement.  Audited Financial Statements are only required for Non-FINRA member firms.  

To establish a new account, go to FINRA - How To Become a Member. For additional information about using the WebCRD system, go to FINRA - CRD Filing & Guidance.

In addition to meeting the requirements for FINRA membership, to register with the Department such broker-dealers must also meet the following requirements:

  1. File directly with the WebCRD System:
  2. (a) a completed Form BD, designating Oklahoma as a jurisdiction on page 2; and
    (b) a $300 filing fee for Oklahoma registration.

  3. Cause each of its agents providing services to an Oklahoma resident to become properly registered with the Department as described in Registration of Agents and Investment Adviser Representatives, unless otherwise excepted or exempted.
  4. Within 60 days of becoming registered in Oklahoma, complete the NonBranch Sales Office Form for each location2 within the State of Oklahoma, in accordance with 660:11-5-11(a)(1)(B) of the Rules of the Oklahoma Securities Commission and the Administrator of the Department of Securities (Rules). NonBranch Sales Offices are held to the same books and records requirements as that of designated Branch Offices. All offices are subject to unannounced on-site examination. At this time there is no fee for maintaining NonBranch Sales Offices in Oklahoma.

Non-FINRA member firms must click here

Post-registration Reporting Requirements

Pursuant to Section 1-406.B of the Oklahoma Uniform Securities Act of 2004 (“Securities Act”), all registrants are required to promptly file a correcting amendment with the Department if the information contained in any document filed with the Administrator or the WebCRD is or becomes inaccurate or incomplete in any material respect unless notification of the correction has been given pursuant to the provisions of Section 1-401.C of the Securities Act. Broker-dealers who are FINRA members must file through the WebCRD.


(1) See Section 15 of the Securities Exchange Act of 1934.

(2) "Nonbranch sales office" means any business location of the broker-dealer identified to the public or customers by any means as a location at which a securities business is conducted on behalf of the broker-dealer which location is identified solely in a telephone directory line listing or on a business card or letterhead, which listing, card, or letterhead also sets forth the address and telephone number of the office of the broker-dealer responsible for supervising the activities of the identified location.