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When Is a Surety Bond Required for a Nebraska Investment Adviser?

A

The State of Nebraska Department of Banking and Finance administers the Investment Adviser program and has oversight of the professional registration, as well as handling of consumer complaints and auditing.

Pursuant to the Nebraska Administrative Code Title 48 Chapter 7, investment advisers must meet the conditions set forth in the Securities Act of Nebraska.

This includes the following for registration:

1. Payment of a filing fee and application for registration through IARD with any required attachments.
2. Copies of a written client contracts and/or agreements.
3. Complete the Net Capital Computation form.
4. Provide copies of promotional or disclosure pamphlets.
5. Provide a current audited financial statement if having custody of client funds. If there is no custody of client funds, then a certified balance sheet not more than 90 days old must submitted.
6. US Citizenship Attestation Form.
7. A $25,000 surety bond is required if the net capital is less than $25,000.
8. If the net capital is between $25,000 and $35,000, the firm can either obtain a surety bond or submit the Net Capital Computation form by the fifth business day of each month.
9. Corporate Resolution Form (if business is a corporation).
10. Complete the Affidavit of Investment Advisory Activity in Nebraska.
11. Registration renewal is due by December 31 of each year.
12. De Minimis- Out-of-state applicants are not required to register until there are five clients or more.

How Much Will This Bond Cost?

The premium that you pay for a Nebraska Investment Adviser Surety Bond is dependent on credit and the bond amount required.

Did You Know?

That a Nebraska investment adviser must renew their registration and bond annually by December 31.

Related Links:

Nebraska Department of Banking and Finance
Nebraska Administrative Code

Have Questions?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday



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