North Carolina Investment Adviser Bond
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How much does a $35,000 investment adviser surety bond cost in North Carolina?
The State of North Carolina Securities Division requires investment advisers to post a surety bond. Qualified applicants who work with SuretyBonds.com can pay as little as 1-3% of the total bond amount.
Apply today for a free, personalized surety bond quote.
Why do I need this bond?
North Carolina investment adviser bonds ensure that investment advisers comply with all rules and regulations stated in Chapter 78C of the North Carolina General Statutes. This bond protects the state and consumers from financial loss if the adviser fails to adhere to all terms of the surety contract. Under this bond, the adviser cannot:
- Employ any device or scheme to defraud another person
- Act as principal for his or her own account, intentionally selling or purchasing any security from a client
- Act as a broker for another client to effect a sale or purchase without first disclosing to such client in writing before the completion of the transaction
- Use unfair methods of competition
- Knowingly advertise any statement of fact which is untrue, misleading or deceptive
What’s the fine print?
North Carolina investment adviser surety bonds will remain continuous throughout the adviser’s license period or until canceled by the surety. To cancel the bond, the surety must give the adviser and the secretary of the state of North Carolina written notice 30 days prior to the desired termination date.
How to become an investment adviser in North Carolina
Investment adviser applicants must satisfy several criteria in addition to obtaining a surety bond to become registered with the state. These requirements include the following:
- $300 registration fee
- Minimum net worth of $10,000 (if applicant is investment adviser w/ discretionary authority)
- Minimum net worth of $35,000 (if applicant is investment adviser w/ custody of client funds or securities)
- Signed financial statements
- Signed surety bond
Investment advisers without a place of business in North Carolina are not required to register until they have had more than 5 clients residing in North Carolina within the past 12 months.
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