What does Texas State Securities Board do?
The mission of the State Securities Board is to protect Texas investors. Consistent with that purpose, the Agency seeks to ensure a free and competitive securities market for Texas, increase investor confidence, and thereby encourage the formation of capital and the creation of new jobs in Texas.
How do I become a registered investment advisor in Texas?
In order to file a registered investment adviser application with the state of Texas, one must first apply to the Financial Industry Regulatory Authority (FINRA) for an account (Entitlement) to their WebCRD/IARD on-line system (the web application for the registration of RIA’s and their representatives).
How do you get a stock broker’s license in Texas?
Schedule an appointment with Pearson or Prometric to take the Series 63 exam. Take and pass the Series 63 exam. The computerized exam consists of 60 multiple choice questions. By passing both the Series 7 and 63 exams you get a license to become a stock broker in Texas.
Who needs to be an IAR?
All states require that investment advisers (IAs) and investment adviser representatives (IARs) conducting business in the state register with the state’s securities regulatory authority (or qualify for an exemption from registration). Approximately 17,500 investment advisers are so registered.
What services are available through the Texas State securities Board?
The Act provides for the registration of securities, registration of firms and individuals who sell securities or render investment advice, examination of registered firms, and enforcement of the Act through administrative, civil, and criminal actions.
How much does it cost to get a Series 6 license?
First, they have to pay to take the Series 6 exam. The exam costs $40. Before they become registered with the Financial Industry Regulatory Authority (FINRA), they’ll also have to pass the Securities Industry Essentials exam, which costs $60.
Who is the securities administrator for Texas?
Travis J. Iles was appointed the Securities Commissioner in 2017. The mission of the State Securities Board is to protect Texas investors.
How hard is it to get a Series 6 license?
The Financial Industry Regulatory Authority (FINRA) recently reported a 59% pass rate for first-time exam takers. This demonstrates the difficulty of the exam and supports the need for adequate preparation. If you do not pass the Series 6 exam, you will have to wait 30 days before you are eligible to take it again.