|Licensing & Compliance
||For more information
||call the Division at (801) 530-6600
- Form U-4
Uniform Application for Securities Industry Registration or Transfer
In most instances, issuers will sell their securities to the public by engaging a licensed broker-dealer and use the agents of
that broker-dealer who are licensed in Utah. However, in some instances an issuer's securities may be sold by an issuer agent.
"Agent" is defined, in section
of the Utah Uniform
Securities Act ("Act"), as "any individual other than a broker-dealer who represents a broker-dealer or issuer in effecting or attempting
to effect purchases or sales of securities." Some exclusions from the definition are outlined in the above mentioned section of the Act.
An issuer agent may sell only the securities of one issuer. The issuer agent may not act as an agent for multiple issuers. See Division Rule
The following are the licensing requirements to become an Issuer Agent. For further details refer to Division Rule
- To become a licensed Issuer Agent, the applicant or sponsoring Issuer must file the following with the Division:
- FINRA Form U-4 - Uniform Application for Securities Registration
or Transfer (with original signatures). (instructions)
- Exams - Proof that the applicant has passed the Series 63 Examination or Series 66 Examination.
- Licensing Fee - Fee of $60.00 for each agent.
- Surety Bond-If required by Division Rule R164-11-1(E).
- A certificate of license will be issued.
- All Issuer Agent licenses expire December 31 of each year.
To renew Issuer Agent license, the following must be filed with the Division before December 31 of each year:
- FINRA Form U-4 with original signatures and the applicant's CRD number
and/or social security number (instructions)
- Renewal Fee - Fee of $60.00 for each agent.