West Virginia
I. Registration Fees.
- Investment Adviser: $200
- Investment Adviser Representative: $100
II. Renewal Fees.
- Investment Adviser: $200
- Investment Adviser Representative: $80
III. Financial & Bonding Requirements. An IA with either discretionary authority or custody of client funds or securities is required to maintain a minimum net worth of $25,000 or a surety bond of $10,000.
IV. 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.
V. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients.
VI. Branch Offices. If an IA has branch offices within the state, the IA must file a notice and pay a fee of $50 per branch.
VII. Other Required Documents.
- Signed consent to service.
- Financial statements.
- Surety/fidelity bond.
- List of branch offices in the state.
- Designation of supervisor.
For additional information, please contact the state Securities Administrator.
