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Massachusetts Investment Adviser Bonds

What is a Massachusetts Investment Adviser Bond?

An Investment Adviser Surety Bond is required as part of the registration/licensing process to transact business in the Commonwealth of Massachusetts as a Broker-Dealer or Investment Adviser. The amount of the bond (i.e. coverage) required and the limit of liability is $10,000 pursuant to 90 CMR 12.205(5)(b). The surety bond ensures strict compliance with all applicable provisions of the securities statutes of the Commonwealth of Massachusetts.

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Investment Advisor / Broker-Dealer Bond

$10,000 Bond

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Investment Adviser Bonds And Getting Your Massachusetts Business License/Registration

Broker-dealer and investment adviser registration in Massachusetts is administered by the Registration Inspections, Compliance and Examinations (RICE). All individuals or firms offering or selling securities or providing investment advice within the Commonwealth must be registered unless an exemption is available. The objective of broker-dealer and investment adviser registration is to ensure that individuals and firms working with investors in the Commonwealth meet minimum acceptable standards of conduct, education, and financial solvency. RICE reviews all applications for registration of broker-dealers, agents, investment advisers, and investment adviser representatives and handles inspections to make sure the requirements of the Massachusetts Uniform Securities Act and Rules are met. Registrants must provide a background investigation, pass examinations on securities principles and state securities laws, and agree to meet record-keeping and disclosure requirements. Financial solvency, examinations results, criminal history, public opinion, and any evidence of past fraudulent business practices in the sale of securities are all considered in review of eligibility for registration.