Broker-Dealer and Investment Adviser Division

The Broker-Dealer and Investment Adviser Division (BDIA) is an operational division under the California Corporations Commissioner. BDIA is headed by a Deputy Commissioner and is responsible for the licensing and regulation of broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives pursuant to the Corporate Securities Law of 1968.

BDIA reviews applications for licensure under the California Corporations Code Sections 25210 and 25230 and, if all requirements are met, applicants receive a registration approval. Once an applicant is approved, it is included in the regulatory examination cycle for that industry.

BDIA has regulatory examination authority under California Corporations Code Section 25241 to conduct reasonable periodic, special, or other examinations by the commissioner, of its broker-dealer and investment adviser licensees for the protection of investors and in the public interest. Examinations are conducted at the licensed location. BDIA may also conduct a regulatory examination for cause at any time.

Violations of the laws (California Financial Code, California Corporations Code and the California Code of Regulations) are handled by the Department's Enforcement Division (ENF). BDIA Division refers violations of the laws and enforcement matters to ENF for appropriate administrative, civil or criminal action.

For the Consumer

Broker-Dealers, State Investment Advisers and SEC Investment Advisers

Broker-Dealer Information

Investment Adviser Information

Investment Adviser Representative Information

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