Finance broker license wa

The notice of application for the grant of a licence must be published in a newspaper circulating within Western Australia 3 months prior to the date of lodgement of the application. If this regulation is breached the Commissioner may require you to re-apply. There are different forms for individual , body corporate and firm licence applications. Contact the Classifieds section of The West Australian or the Sunday Times to place your advertisement in the Public Notices section it can be advertised on any day of the week.

Fax the entire form to the newspaper, and they will format it for you. The full page of the newspaper showing your advertisement and the date of publication must be received with the application.

From the date that the application is advertised, there is an objection period of 14 working days within which any person may object to the Commissioner granting a licence. Applications generally take between days to consider depending on whether further information is required. This time frame begins when you have lodged all the required documentation. The lodgement date is taken to be the date your application along with full payment of the licensing fee is receipted by the cashier. If you require any further assistance in applying for a finance brokers licence, you can contact a licensing officer by:.

The Commissioner for Consumer Protection may grant a licence if it is satisfied that an applicant is of good character and repute, has sufficient financial resources, is deemed competent to carry out the duties of a licensed finance broker and meets the applicable requirements for either an A, B, C or D Class licence as stated below: A Class — Unrestricted B Class — Licensees can only negotiate or arrange loans of money with bona fide institutional lenders.

C Class — Licensees can only negotiate or arrange loans of money with bona fide institutional lenders and are required to operate exclusively under the supervision of a nominated licensed finance broker.

Please note that all licences are valid for three years from the date of issue and the fee is not refundable. The Cashier will provide you with a receipt. Date of lodgement The lodgement date is taken to be the date your application along with full payment of the licensing fee is receipted by the cashier. Further assistance If you require any further assistance in applying for a finance brokers licence, you can contact a licensing officer by: Phone: 08 Fax: 08 Email: This e-mail address is being protected from spambots.

Most commodities are traded on national exchanges. These types of investments, and the persons who sell them, are regulated by the Commodity Futures Trading Commission and the self-regulatory organization over which it has oversight, the National Futures Association. In , the Legislature adopted RCW Persons who deal in transactions that come under the Act are required to register as commodity broker-dealers. It has been several years since anyone has been registered as a commodities broker-dealer.

The Act has been used primarily as an enforcement tool against fraudulent offers. Consumer Loan Company License. Required of any company engaged in the business of making secured or unsecured loans of money, credit, or things in action, to Washington residents, servicing student loans obligating Washington residents, servicing residential mortgage loans secured by Washington residential real estate or obligating Washington residents, and engaging in third party processing or underwriting.

Also includes Student Education Loan Servicers. To allow the operation of state-chartered credit unions in the State of Washington. Government chartered and supervised member-owned cooperative thrift and loan services. It is important for DCU to gather a significant amount of info.

Varies, depending on the amount of donated capital, earning potential of the new CU, the abilities of the proposed mgt. No statutory requirement for processing time for state approval or denial of application; typically 30 to 60 days.

Required of any company exchanging the money of one government for money of another government, or holding oneself out as able to exchange the money of one government for money of another government. Currency Exchanger License. This registration is required for the individual at the licensed Mortgage Broker who is responsible for ensuring the company and its staff are in compliance with applicable state and federal requirements. Mortgage Brokers License. Escrow Agent and Officer Licensing.

Required of any company engaged in the business of performing any transaction wherein any person or persons, for the purpose of effecting and closing the sale, purchase, exchange, transfer, encumbrance, or lease of real or personal property to another person or persons, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by such third person until the happening of a specified event or the performance of a prescribed condition or conditions, when it is then to be delivered by such third person, in compliance with instructions under which he or she is to act, to a grantee, grantor, promise, promisor, obligee, obligor, lessee, lessor, bailee, bailor, or any agent or employee thereof.

Escrow Agent Licensing. Escrow Officer Licensing. To allow the operation of an alien bank, branch bureau or representative office in the State of Washington.

It is important for DOB to gather a significant amount of information to ascertain whether the proposed Alien bank should be allowed to do business in Washington State. To allow a franchise broker to transact business in Washington State.

Directly or indirectly engaging in the business of the offer or sale of franchises. Franchise Registration Application Franchises. To allow an investment adviser to transact business in Washington State.

Directly or indirectly engaging in the business of advising others as to the value of securities or as to the advisability of investing in, purchasing, or selling securities or issuing reports concerning securities for compensation.

Varies depending on the time applicant takes to remedy application deficiencies, pass qualifying exams and obtain approval from home state, if out-of-state applicant. Required for any company engaged in the business of receiving money or its equivalent value to transmit, deliver, or instruct to be delivered to another location inside or outside the United States; or selling, issuing or act as an intermediary for open loop stored value devices and payment instruments, or any independent entity that holds or administers a dedicated bank account for fees and payments to creditors, debt collectors, debt adjusters, or debt adjusting agencies in connection with the renegotiation, settlement, reduction, or other alteration of the terms of payment or other terms of a debt.

State Licensing Requirements. Required for each fixed physical location representing a licensed Mortgage Broker company offering to originate mortgage loans for Washington residents or secured by Washington property or for the supervisor over underwriters and processors. Required for any company that for compensation or gain, or in the expectation of compensation or gain: a assists a person in obtaining or applying to obtain a residential mortgage loan or b holds itself out as being able to assist a person in obtaining or applying to obtain a residential mortgage loan or engages in third party processing or underwriting.

Required for: 1 individuals originating loans for licensed mortgage Brokers and Consumer Loan Companies 2 independent contractor processors representing licensed or exempt Mortgage Brokers and Consumer Loan Companies 3 Individuals originating loans for a Credit Union Service Organizations 4 managers directly supervising WA MLOs or underwriters and processors. It is important for DOB to gather a significant amount of information to ascertain whether the proposed new bank could be successful.

Allows the offer or sale of any securities in an offering that is registered federally and that is not of a federal covered security or an exempt securities offering. Allows the offer or sale of securities in Washington State in an offering that is not registered federally and that is not of a federal covered security or an exempt securities offering. To allow a securities salesperson to transact business in the State of Washington.

Any individual, other than a broker-dealer, who represents a broker-dealer in effecting sales of securities. To allow a securities salesperson of an issuer to transact business in the State of Washington. Any individual, other than a broker-dealer, who represents an issuer in effecting sales of securities. It is important for DOB to gather a significant amount of information to ascertain whether the proposed new SBA lender could be successful.

To allow the establishment and operation of tax refund anticipation loan facilitation in Washington State. Businesses providing tax refund anticipation loans. Tax Refund Anticipation Loan Facilitators. It is important for the Division of Banks to gather a significant amount of information to ascertain whether the proposed new trust company could be successful.

There is not just one location where you can find an application. Visit Trust Companies. Home Open a business Get started Apply for a license Plan for taxes. Run Grow Close. Forms by name Forms by subject Publications by name Publications by subject. Name Department of Financial Institutions.

Broker Dealer Registration. Purpose To allow a securities broker-dealer to transact business in the State of Washington. Securities Broker Dealers. License renewal Calendar year-end renewal. Additional resources Processing time varies. Business Development Company Registration. Purpose Allows businesses to charter and operate business development companies.

How to submit Contact the Division of Banks Department of Financial Institutions The application process is comprehensive and somewhat lengthy.

Processing time Minimum days. Fees There is an hourly charge based on time it takes to review and investigate the application. License renewal None. Additional resources Applications involve numerous pieces of information and forms. Business Opportunity Registration Permit.

Purpose To allow the sale or lease of a business opportunity within the State of Washington. How to submit File the application with the Securities Division, including the required fee. Processing time Within 30 days. License renewal Valid for one year.

Purpose Required for each location where a licensee engages in the business of cashing checks, drafts, or small loans. How to submit Must apply through a nationwide licensing system.

Processing time 10 days. Purpose Required of any company that, for compensation, engages in whole or in part, in the business of cashing checks, drafts, money orders, or other commercial paper serving the same purpose; engaged in the business of making small loans as specified in RCW How to submit Must apply through a nationwide licensing system except for the Small Loan Agent license - apply directly to the Department.

Processing time 25 days. Commercial Bank Charter Registration. Purpose Allows the operation of a state chartered commercial bank. How to submit The application process is comprehensive and somewhat lengthy. Commodity Broker Dealer. Purpose To allow the sale of off-exchange commodities contracts in Washington State.

How to submit Contact the Securities Division to obtain application. Does not apply, due to federal preemption in this area.

Processing time Does not apply. No current licenses due to federal preemption. Additional resources Most commodities are traded on national exchanges. Consumer Loan Company - Branch License. Purpose Required for each fixed physical location representing a licensed Consumer Loan Company. Purpose Required of any company engaged in the business of making secured or unsecured loans of money, credit, or things in action, to Washington residents, servicing student loans obligating Washington residents, servicing residential mortgage loans secured by Washington residential real estate or obligating Washington residents, and engaging in third party processing or underwriting.