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Broker/dealer initial licensing requirements (Canadian)

When licensed as described below, a Canadian broker-dealer and its salespersons may transact business with its customers who are temporarily in Oregon, or with persons from Canada now living in Oregon with respect to transactions in a self-directed tax advantaged retirement plan in Canada.

The broker-dealer may not have an office or other physical presence in Oregon, must be registered in good standing in the jurisdiction from which it is effecting transactions in Oregon, and must be a member of a self-regulatory organization or stock exchange in Canada.

To obtain a license for these limited purposes, the firm must submit the following to the Director (mail to DFCS, 350 Winter St. NE, Rm. 410, Salem, OR 97301-3881):

  1. An application for the firm in the form required by the Canadian jurisdiction in which the firm has its head office

  2. Evidence that the firm is registered and in good standing in the jurisdiction from which it will do business in Oregon

  3. An application for at least one salesperson in the form required by the Canadian jurisdiction in which the firm has its head office

  4. Evidence that the salesperson(s) is/are registered and in good standing in the jurisdiction from which he or she will do business in Oregon

  5. Fees in the amount of $250 for the firm and $60 for each salesperson to be licensed. Fees are in American dollars, and a check for the fees should be made payable to the Department of Consumer and Business Services.

Refer to the Secretary of State's Web page to access the entire text of this rule, found at OAR 441-175-0085.

Licenses for both the firm and any salespersons expire on Dec. 31 each year.