If you’re an IA or BD and you want to play ball in the state, you gotta have the cash to back you up. The state Administrator sets a minimum net capital amount, which you need to have to register. The Administrator can waive that minimum, but you better pay him off handsomely.
If you’re an IA or BD and you’re thinking about taking the incomprehensibly life-complicating step of becoming a custodian for client assets or accepting upfront payments from clients, you’re gonna have to bare your a...
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