as a Securities Broker/Dealer Agent
{Code of Alabama 1975, § 8-6-3 and Commission Rule 830-X-3} |
Applications for broker/dealer registration should be filed with the Web CRD system. A Form U-4| Instructions and $70.00 filing fee is required to make such application. Please be advised that Commission Rule 830-X-3-.09 prohibits dual registration of any “associated person” simultaneously with more than one broker/dealer. Requests for waivers of this prohibition in the case of affiliated broker/dealers should be directed to the attention of the Director of the Alabama Securities Commission, Mr. Joseph P. Borg. Such requests are considered on a case by case basis. Please be advised that Commission Rule 830-X-3-.08 requires the satisfaction of the following exam requirements:
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Please Note: Effective January 1, 2010, the new passing scores for each securities law exam will be as follows:
Test | Raw Score | Percentage of Test Points |
Series 65 | 94 | 72% |
Series 63 | 43 | 72% |
Series 66 | 75 | 75% |
Exam waivers are available under limited circumstances and are strictly granted on an individual basis.
Pursuant to Code of Alabama, 1975, Section 8-6-3(j)(8), an applicant may be denied registration if he or she is insolvent. Applicants may be required to submit a current attested balance sheet in order to confirm compliance. Applicants may submit their own completed balance sheet form or complete the attached balance sheet form for submission.