Frequently Asked Questions

Are annual audited financial statements required?

No, as long as the firm is a member of FINRA, financial statements are no longer required to be submitted on an annual basis.

Is there a De Minimus rule for broker-dealers?

No, there is no De Minimus rule for broker-dealers, only Investment Advisers.

If a firm has no place of business in the State of New Mexico, does an individual have to be registered?

Yes, one individual must be registered at all times to serve as the designated principal for New Mexico.

Does New Mexico allow agents to be registered with more than one firm?

Yes, as long as the firms are affiliated.

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