Founded by Former SEC Attorneys

      SEC Fees. There is no separate fee for registering a broker-dealer with the SEC.

      NASD Fees. The initial NASD registration fee for self-clearing firms is $5,000, and for all other firms is $3,000. In addition, there are examination fees ($150 per examination), fees to register principals and representatives ($85 initially, and $10 annually, per person), and fingerprint card processing fees ($24.50 per person).

1. Blue Sky Fees. Fee for registering broker-dealers in the states range from a low of $75 in Utah to a high of $800 in New York, with most falling between $200 and $300, inclusive. Fees for registering agents range from $13 in Colorado to $235 in Texas, with most around $50.
2. Securities Investor Protection Corporation. Although SIPC has in the past assessed broker-dealers based upon their gross revenues from the securities business, and may do so again in future years, the rate of assessment has recently been a flat $150 per year.

      A reasonable estimate of time to register a broker-dealer is three to six months from first filing with the NASD, although in some cases the process may take less than three months or more than a year.

[ 1 ] [ 2 ] [ 3 ]

  Back to Publications