Section 48-4-012 - MINIMUM FINANCIAL REQUIREMENTS AND FINANCIAL REPORTING REQUIREMENTS012.01 Each broker-dealer which is a member of FINRA registered or required to be registered under the Act shall: 012.01A Comply with the financial requirements established in SEC Rule s 15c3-1 (17 C.F.R. 240.15c3-1), and 15c3-3 (17 C.F.R. 240.15c3-3), and012.01B Comply with the financial reporting requirements established in SEC Rule 17a-11 (17 C.F.R. 240.17a-11) and provide copies of notices and reports required by such SEC Rules to the Director upon request.012.02 Each broker-dealer which is not a member of FINRA registered or required to be registered under the Act shall: 012.02A Maintain a net capital of not less than twenty-five thousand dollars ($25,000.00). 012.02A1 A broker-dealer which has a net capital which is less than required by this Section shall submit a surety bond in the amount of twenty-five thousand dollars ($25,000.00) with its application.012.02A2 Net capital means total assets minus total liabilities.012.02B File with the Director audited financial statements showing the assets, liabilities and net capital of the broker-dealer within ninety days of the end of the broker-dealer's fiscal year, which shall be: 012.02B1 Examined in accordance with generally accepted auditing standards and prepared in conformity with generally accepted accounting principles;012.02B2 Audited by an independent public accountant or an independent certified public accountant; and012.02B3 Accompanied by an opinion of the accountant as to the report of financial position, and by a note stating the principles used to prepare it, the basis of included securities, and any other explanations required for clarity.48 Neb. Admin. Code, ch. 4, § 012
Amended effective 6/5/2017.Amended effective 11/27/2019Amended effective 6/13/2022