Branch office means any location in this state of a dealer or investment adviser where one or more associated persons regularly conduct the business of rendering investment advice or effecting any transactions in, or inducing or attempting to induce the purchase or sale of any security, or any location that is held out as such.
Exclusions from the definition of branch office are set forth in Rule 69W-200.001(8), Florida Administrative Code (F.A.C.). Any person who claims entitlement to any of the exclusions bears the burden of proving such entitlement.
Notice Filing Requirements
No dealer shall conduct business from a branch office within Florida unless the branch office is notice filed with the Office of Financial Regulation (OFR).
The Florida Division of Securities utilizes the Regulatory Enforcement and Licensing (REAL) System for the notice filing of branch offices of Non FINRA member dealers. This online system enables registrants to submit the Form BR, Uniform Branch Office Registration, documents and fees electronically. Additional filing requirements shall be submitted as prescribed in Section 517.1202, F.S., and Rule 69W-600.0032, F.A.C.
Paper filings for branch offices received by the OFR will be returned to the filer with instructions for filing electronically.
If the information contained on the Form BR, Uniform Branch Office Registration, becomes inaccurate for any reason, the Non FINRA member dealer shall file an amendment on the Form BR correcting the information within 30 days.
Amendment filings for branch offices shall be made through online services.
Termination of Branch Notice Filing
Non FINRA member dealers shall file notices of termination of branch offices on the Form BR, Uniform Branch Office Registration.
Termination filings shall be submitted through online services.
Renewal of Branch Office Notice Filing
Renewal fees for branch offices of Non FINRA member dealers shall be filed electronically through the REAL System of the OFR. It is incumbent upon the registrant, not the OFR, to ensure that the renewal payment is submitted timely. The renewal fee is $100 for each branch office location.
Registrants should refer to Section 517.1202, F.S., and Rule 69W-600.0032, F.A.C., for additional guidance.
Branch office notice filings of Non FINRA member dealers expire at the end of each calendar year and must be renewed timely for the branch to remain notice filed to conduct business in or from Florida.
A branch office of a Non FINRA member dealer is subject to the requirements found in Chapter 517, F.S., the Florida Securities and Investor Protection Act, and the administrative rules, Sections 69W-100 through 69W-1000, F.A.C.