I. Registration Fees.
- Investment Adviser: $200.
- Investment Adviser Representative: n/a (New York does not require IAR registration).
II. Financial & Bonding Requirements. An IA is not required to maintain a surety bond or satisfy a minimum net worth requirement.
III. Sole Proprietorships. If an IA is a sole proprietorship, the proprietor is not required to pay an IAR registration fee or file a Form U4, but the proprietor must pass the Series 65 examination or the Series 7 and 66 examinations, unless a waiver has been granted.
IV. De Minimis. Neither an in-state nor an out-of-state IA is required to register until it has more than 5 clients.
V. Other Required Documents.
- Signed financial statements.
For additional information, please contact the state securities administrator.