Jersey Investment Dealer_License
Jersey Investment Adviser
The New Jersey Bureau of Securities is authorized to licence and regulate investment dealers within the state of New Jersey. No person (legal or natural) is authorized to conduct investment dealer activities in Jersey without a license granted by the New Jersey Bureau of Securities pursuant to the requirements Investment Advisers Act of 1940
Investment adviser representative” means any person, including, but not limited to, a partner, officer, or director, or a person occupying a similar status or performing similar functions, or other individual, except clerical or ministerial personnel, who is employed by or associated with an investment adviser registered under this act, or who has a place of business located in this State and is employed by or associated with a person registered or required to be registered as an investment adviser under section 203 of the “Investment Advisers Act of 1940,” 15 U.S.C. s.80b-3; and who does any of the following:
- makes any recommendations or otherwise renders advice regarding securities if the person has direct advisory client contact;
- manages accounts or portfolios of clients;
- determines recommendations or advice regarding securities;
- solicits, offers or negotiates for the sale of or sells investment advisory services; or
- directly supervises any investment adviser representative or the supervisors of those investment adviser representatives. “Investment adviser representative” does not include a broker-dealer or an agent
Investment Dealer means:
- any person who, for direct or indirect compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, selling or holding securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities; and
- any financial planner and other person who provides investment advisory services to others for compensation and as part of a business or who holds himself out as providing investment advisory services to others for compensation.
The entity making the application is a Jersey:
|The licensee will need at least 2 (two) natural person Fit and Proper Directors of any jurisdiction.
|The management should ensure that the licensee appoints a compliance officer to ensure compliance with applicable laws and with the internal policies of the licensee by its employees, agents, and other contractors.
|The applicant must have a physical place of business in Jersey
|A licensee shall appoint annually a licensed auditor.
|The applicant must have indemnity insurance coverage
|Minimum Capital Requirements
|The minimum capital required for a registered investment-dealer shall be determined by rule of the bureau chief.
- A licensee shall, within 4 months of the end of every financial year, forward to the Authority the audited financial statements referred to in subsection (1) unless prior written approval for an extension has been granted by the Authority.
- Filing of Audited Accounts: The licensee shall for the financial year beginning on the day on which it commences to carry on securities business; and for each subsequent year submit to the Commission, within ninety days after the end of the financial year, audited financial statements prepared in accordance with international accounting standards, and which contain such additional information as may be prescribed.
- The Licensee must maintain appropriate policies of insurance for the purpose of indemnifying such licensee against any liability that may be incurred as a result of any act or omission by the licensee or any of its officers or employees in the conduct of the licensee’s securities business.
About Valsen Fiduciaries
Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.
- Company formations and Administration
- Assistance with Bank Account opening
- Collective Investment Setup and Administration
- Intellectual Property Registrations and Maintenance.
- Trusts and Foundations setup and administration
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- Banking Licenses and PSP, E-Money, E- Wallet Licenses
- Yacht and aircraft registrations.
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The Valsen Advantage
- We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
- Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
- We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
- We have a full in-house compliance support for all compliance requirements with the regulator and service providers
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