Investor Protection & Securities:: Registration
The Registration Section of the Securities Division reviews applications to register securities under a “merit review.” This review is intended to assist issuers in making full disclosure of important information, as well as determining if the offering is “fair, just and equitable.” The staff also receives filings of federally covered securities and reviews claims of exemption from registration.
Registration of Brokers and Advisers
The Registration Section regulates the activities of broker-dealers, agents, investment advisers, and investment adviser representatives. Members of the staff register approximately 1,602 broker-dealers, 151,266 agents, 1,822 investment advisers and 11,566 investment adviser representatives annually. After review, the registration section may register the applicant or refer the matter to the Enforcement Section, which may request that the Commissioner deny, suspend, or revoke an individual or a firm’s registration.
Examinations and Inspections
The Registration Section performs routine and for-cause examinations of broker-dealers and investment advisers to make sure that both the firms and their employees are in compliance with Missouri Securities Law. For more information, see the answers to frequently asked questions regarding examinations by the Securities Division.
Registration of a Family Trust Company
A family trust company is a corporation or limited liability company organized or qualified to do business in the state of Missouri that is wholly owned and exclusively controlled by, directly or indirectly, one or more family members, excluding any former spouse of a family member; that operates for the exclusive benefit of a family member regardless of whether compensation is received or anticipated; and that does not engage in trust company business with the general public or otherwise hold itself out as a trustee for hire by advertisement, solicitation, or other means.