Branch office means any location in this state of a dealer or investment adviser where one or more associated persons regularly conduct the business of rendering investment advice or effecting any transactions in, or inducing or attempting to induce the purchase or sale of any security, or any location that is held out as such.
Exclusions from the definition of branch office are set forth in Rule 69W-200.001(8), Florida Administrative Code (F.A.C.). Any person who claims entitlement to any of the exclusions bears the burden of proving such entitlement.
No state registered adviser shall conduct business from a branch offices within Florida unless the branch office is notice-filed with the Office of Financial Regulation (OFR).
The Florida Division of Securities participates in the Central Registration Depository (CRD) system for the notice-filing of branch offices for state registered advisers.
All state registered advisers notice-filing branch offices shall file the Form BR, Uniform Branch Office Registration, documents and fees prescribed in Chapter 517.1202, Florida Statutes (F.S.), and Rule 69W-600.0034, F.A.C., through the CRD.
To obtain more information about how to make branch office filings through the CRD system, contact FINRA at (301) 590-6500 or their website http://www.finra.org/industry.
Amendments to Form BR
If the information contained on the Form BR becomes inaccurate for any reason, the state registered adviser shall file an amendment on the Form BR correcting the information within 30 days.
Amendment filings shall be made through the CRD system.
Termination of Branch Notice-Filing
State registered advisers shall file notice of termination for their branch offices on the Form BR.
Termination filings shall be made through the CRD system.
Renewal of Branch Office Notice-Filing
Renewal fees for branch offices of state registered advisers shall be submitted through the CRD system in accordance with FINRA guidelines. It is incumbent upon the registrant, not the OFR, to ensure that the renewal payment is submitted timely. The renewal fee is $100 for each branch office location.
Registrants should refer to Section 517.1202, F.S., and Rule 69W-600.0034, F.A.C., for additional guidance.
Branch office notice-filings of state registered advisers expire at the end of each calendar year and must be renewed timely for the branch to remain notice-filed to conduct business in or from Florida.