Iowa

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I. Registration Fees.

  • Investment Adviser: $100
  • Investment Adviser Representative: $30

II. Financial & Bonding Requirements. If an IA has custody of client funds, the IA must have a minimum net worth of $35,000 and a surety bond if the Administrator so decides. If an IA has discretion over client funds, the IA must maintain a minimum net worth of $35,000. If an IA has no discretion or custody, the IA must maintain a minimum net worth of $10,000.

III. Sole Proprietorships. If an IA is a sole proprietorship, registration fees are not required for the IAR. A form U4, however, must be filed for the IAR.

IV. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients.

V. Other Required Documents.

  • Copy of firm’s surety/fidelity bond, if required.

For additional information, please contact the state securities administrator.

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