(a) Registration and notice filing fees. Information
about registration and notice filing fees for original and renewal
applications for investment adviser and investment adviser representatives,
officers, partners, or solicitors of an investment adviser is available
on the Agency's web site located at www.ssb.state.tx.us or by contacting
an office of the State Securities Board.
(b) Reduced fees for certain persons registered in
multiple capacities.
(1) In general. A person may request reduced fees under
paragraph (2) of this subsection, provided they are registered or
are seeking registration in Texas:
(A) as either an agent of a securities dealer or as
a sole proprietor securities dealer; and
(B) as either an investment adviser representative
of an investment adviser that has less than five investment adviser
representatives or as a sole proprietor investment adviser with less
than five investment adviser representatives.
(2) Procedure. Persons meeting the requirements of
paragraph (1) of this subsection may request reduced registration
fees by filing Form 133.36, Request for Reduced Fees for Certain Persons
Registered in Multiple Capacities. Form 133.36 must be filed at the
time the original application for investment adviser representative
or sole proprietor investment adviser registration is filed, or at
least 30 days before the person's existing investment adviser representative
or sole proprietor investment adviser registration will expire. On
review of Form 133.36, the Securities Commissioner may, in his or
her discretion, grant or deny the request for reduced fees or direct
the person to supply additional information.
(3) Reduced fees. If the Securities Commissioner grants
a person's request, the person must pay all applicable fees for registration
as a dealer or dealer's agent as specified in the Texas Securities
Act, §35.A, but is exempt from the fees specified in the Texas
Securities Act, §35.A, in connection with original and renewal
applications for registration as an investment adviser representative
or sole proprietor investment adviser, as applicable at the time Form
133.36 is filed. The reduction in fees granted by the Securities Commissioner
under this subsection shall continue in force, without any further
filings, as long as a person remains registered in a multiple capacity
status.
(c) Reduced fees for sole proprietor investment advisers.
A person seeking registration in multiple capacities as a sole proprietor
investment adviser and as the designated officer of that sole proprietor
investment adviser shall pay only the fee required in connection with
the original or renewal application for registering as a sole proprietor
investment adviser.
(d) Fees for concurrent registrations. Notwithstanding
the Texas Securities Act, §35, a person shall pay only one fee
required under that section to engage in business in this state concurrently
for the same person or company as:
(1) a dealer and an investment adviser; or
(2) an agent and an investment adviser representative.
(e) Waiver of initial application fee and examination
fee for certain military applicants. A military applicant who meets
the requirements in §116.18(c) of this chapter (relating to Special
Provisions Relating to Military Applicants) is eligible to have his
or her initial application fee in Texas and the fee to take the Texas
Securities Law Examination waived or refunded by following the procedure
set out in §116.18(c).
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Source Note: The provisions of this §116.8 adopted to be effective August 12, 2001, 26 TexReg 5799; amended to be effective November 26, 2001, 26 TexReg 9582; amended to be effective February 24, 2004, 29 TexReg 1644; amended to be effective August 18, 2011, 36 TexReg 5095; amended to be effective February 24, 2016, 41 TexReg 1224 |