Virginia Broker Dealer or Investment Advisor Surety Bond

A Broker Dealer's Surety Bond or an Investment Advisor's Surety Bond is required in Virginia for those applying to the State Corporation Commission of the Commonwealth of Virginia for registration or renewal of registration as an investment advisor or broker dealer pursuant to the Securities Act (Chapter 5, Title 13.1, Code of Virginia (1950). The bond is conditioned upon the discharge of all obligations as a broker dealer or investment advisor registered under the Securities Act. The surety bond also guarantees that the bonded principal accounts for all client funds and securities handled, performs all business contracts, and satisfies any civil penalties as provided in the Virginia Securities Act.