OAR 441-175-0165
Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives

(1)

Intentionally left blank —Ed.

(a)

The licenses of a non-FINRA broker-dealer or state investment adviser (employer), and the licenses of their salespersons or investment adviser representatives, expire 12 months following the date of original licensing or last renewal of the license of the employer unless otherwise renewed according to this rule.

(b)

Notwithstanding subsection (a), if a state investment adviser or investment adviser representative applies through the CRD/IARD that license expires on December 31 of each year unless renewed through the CRD/IARD.

(2)

Incomplete applications will not be processed.

(3)

To renew a license, a state or federal covered investment adviser which has previously licensed through IARD must submit the following items to the IARD, to the extent the IARD is capable of accepting those items, and otherwise to the director:

(a)

An employer renewal fee as set in OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals);

(b)

A renewal fee as set in OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals) for each licensed investment adviser representative;

(c)

Any amendments to Form ADV or Form U-4, under OAR 441-175-0105 (Material Changes, Amendments and Notice of Civil and Criminal Actions), which have not previously been submitted.

(4)

To renew a license, a non-FINRA broker-dealer must submit the following items to the director:

(a)

A non-FINRA broker-dealer renewal form;

(b)

An amended Form BD or ADV, under OAR 441-175-0105 (Material Changes, Amendments and Notice of Civil and Criminal Actions), if there have been material changes since the most recent filing of the appropriate form;

(c)

The name of the person who is the supervisor of the employer’s operations. When a new supervisor is appointed, the employer must file the change with the director;

(d)

A salesperson renewal form for each salesperson to be renewed, signed by both the salesperson and the employer;

(e)

An employer renewal fee as set in OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals), except as provided in section (6) of this rule;

(f)

A salesperson renewal fee as set in OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals) for each salesperson to be renewed, except as provided in section (6) of this rule; and

(5)

If the applicant for renewal is an Oregon based state investment adviser, the renewal applicant must submit the following financial information:

(a)

If the investment adviser has or will have custody of client funds or securities, or will require payment of advisory fees six months or more in advance and in excess of $500 per client, the latest annual balance sheet which must be audited by an “independent accountant,” as defined by OAR 441-175-0010 (Definitions)(13);

(b)

For all other investment advisers, the latest annual balance sheet which may be audited, reviewed or compiled, prepared by an “independent accountant,” as defined by OAR 441-175-0010 (Definitions)(13); and

(c)

If the latest annual balance sheet and statement of income or operations is not current within 90 days of renewal, an interim balance sheet must be submitted.

(6)

Any federal or state investment adviser transitioning onto IARD shall pay a prorated renewal fee for the employer and any previously licensed investment adviser representative in the year of the transition calculated from the month the existing notice filing or license expires, as shown in the following table: [Table not included. See ED. NOTE.]
[ED. NOTE: Table referenced are available from the agency.]

Source: Rule 441-175-0165 — Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-175-0165.

441–175–0002
Fees for Licensing or Notice Filing of Firms and Individuals 441–175–0010
Definitions 441–175–0015
When Licensing Application Deemed Abandoned 441–175–0020
Exclusion from Definition of “Broker-Dealer” 441–175–0030
Exclusion from Definition of “Investment Adviser” 441–175–0040
Exclusion from Definition of “Salesperson” 441–175–0041
Exclusion from Definition of “Investment Adviser Representative” 441–175–0046
Federal Covered Investment Advisor Representative 441–175–0050
Rules of Fair Practice for Real Estate Licensees 441–175–0055
Rules of Fair Practice for Mortgage Banker and Mortgage Broker Licensees 441–175–0060
Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996 441–175–0070
General Licensing Rules for Broker-Dealers, Investment Advisers and Salespersons, Succession and Acquisition 441–175–0080
Applications for Licensing of Broker-Dealers 441–175–0085
Limited Licensing of Canadian Broker-Dealers and Salespersons 441–175–0100
Applications for Licensing of Investment Advisers 441–175–0105
Material Changes, Amendments and Notice of Civil and Criminal Actions 441–175–0110
Surety Bond 441–175–0120
Licensing of Salespersons or Representatives to Non-FINRA Broker-Dealers, State or Federal Covered Investment Advisers, Issuers and Owners of Securities 441–175–0130
Licensing of Salespersons to FINRA Broker-Dealers 441–175–0140
Disqualification from Automatic Licensing 441–175–0150
Termination or Cancellation of Salesperson or Investment Adviser Representative License 441–175–0160
Renewal of FINRA Broker-Dealer and Salesperson Licenses 441–175–0165
Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives 441–175–0171
Use of Trade Name or Assumed Business Name 441–175–0175
Internet Communications 441–175–0185
Errors and Omissions Coverage under ORS 59.175
Last Updated

Jun. 8, 2021

Rule 441-175-0165’s source at or​.us