The bill aims to amend the registration process for broker-dealers and agents in West Virginia, specifically focusing on the registration fees associated with agents. It proposes to increase the registration fee for agents from $66 to $70. This change is part of a broader effort to ensure that the fees reflect the costs of administering the registration process, with the West Virginia State Legislature reserving the right to adjust these fees every four years based on the percentage increase in administrative costs.

In addition to the fee increase, the bill outlines the registration and notice filing procedures for broker-dealers, agents, and investment advisers, detailing the information required for applications and the conditions under which registrations become effective. It also includes provisions for the registration of successors, minimum capital requirements, and compliance assessments for agents and representatives. Overall, the bill seeks to streamline the registration process while ensuring that the fees are updated to meet current administrative needs.

Statutes affected:
Introduced Version: 32-2-202