License Requires

For Broker dealer

1. At least two registered principals (financial and operation) who are involved in the management of the member's investment banking securities business
2. The executive representative is required to be a registered principal in the Applicant's senior management.
3. The broker/ dealer must be registered in home office location.
4. Broker/dealer, principals, and each registered representative must be registered in each and every state in which a securities business will be conducted.
5. Minimum capital is no less than $250,000 or 2 percent of aggregate debit items computed in accordance with the Formula for Determination of Reserve Requirements for Brokers and Dealers.
6. A broker-dealer that acts as a prime broker must maintain net capital of not less than $1,500,000.

For Capital acquisition broker

1. FINRA encourages qualifying member firms and new firms to consider converting to CAB status. Switching to CAB status will help ensure that qualifying firms will be governed by a regulatory structure that is better suited to the limited nature of their business.

For Funding Portals

1. Funding portals must register with the SEC and become a member of FINRA.

Documents require

1. the SEC and FINRA by filing a hard copy Form BD.
2. Form BD enables firms to register with the state
3. All firms must file Form BR to register each of the Applicant's branch offices.
4. Individual : Form U4 (Link to Form U4)
5. Fingerprint Cards
6. Application fees