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Broker/dealer initial licensing requirements (Non-FINRA)

A broker-dealer firm which is a member a Self-Regulatory Organization other than FINRA must submit all licensing materials and fees directly to the Director. Our mailing address is 350 Winter St. NE, Rm. 410, Salem, OR 97301-3881. The Oregon licensing statute (ORS 59.165) requires that each firm must license the firm and at least one individual to act on behalf of the firm in Oregon. The firm must have at least one individual licensed at all times the firm is licensed in Oregon.

Materials and fees to be submitted are:

  1. Form BD

  2. Form U-4 for at least one individual to be licensed to the firm

  3. A letter identifying the person who will supervise the securities activity of the firm in Oregon

  4. Fees in the amount of $250 for the firm and $60 for each salesperson. A check for the fees should be made payable to the Department of Consumer and Business Services.

NOTE: If any individual is already licensed in Oregon to another broker-dealer firm or investment adviser firm, this subsequent license for the salesperson will not be approved unless all employers sign and file a dual undertaking form 2131.pdf (form available in the Forms area of this Web site). All signatures must be original.

Licenses of non-FINRA broker-dealer firms expire one year from the date the firm is approved in Oregon. This expiration date also applies for any salesperson license, regardless of the date when that individual was first licensed in Oregon to that firm.