Maryland Code, Corporations and Associations § 11-409
Current as of December 31, 2021 | Updated by FindLaw Staff
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(a) The Commissioner may require by rule or order:
(1) A minimum capital for a registered broker-dealer, subject to the limitations of § 15 of the Securities Exchange Act of 1934; 1 and
(2) Minimum financial requirements for an investment adviser, subject to the limitations of § 222 of the Investment Advisers Act of 1940. 2
(b) These financial requirements may include different requirements for those investment advisers who maintain custody of clients' funds or securities, or who require payment more than 6 months in advance of fees in excess of $500, and those investment advisers who do not.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 11-409 - last updated December 31, 2021 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-11-409/
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