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The Michigan Uniform Securities Act (MUSA), 2008 PA 551, provides for the regulation of the securities industry in Michigan. The Securities & Audit Division oversees the registration of individuals and entities that provide investment-related advice to Michigan residents, the registration and exemption of products, and investigates complaints related to securities.
Securities sold in Michigan must be either registered, federally covered, or exempt from registration, under the MUSA. All persons or businesses that offer or sell securities in this state or advise (for a fee) on what securities should be bought or sold must be registered, or exempt from registration, under the MUSA.
The Corporations, Securities & Commercial Licensing Bureau (CSCL) is committed to educating and protecting Michigan investors and consumers while fostering efficient capital formation in Michigan. The Bureau works closely and cooperatively with federal and state securities agencies, the North American Securities Administrators Association (NASAA), and self-regulatory organizations (SROs).
Michigan has amended Rule 451.4.9 and adopted new Rule 451.4.30 implementing the Examination Validity Extension Programs (EVEP) that are administered by NASAA and coordinated with FINRA’s Maintaining Qualifications Program (MQP). The EVEP and MQP programs allow eligible agents and investment adviser representatives to extend the validity of their qualifications for up to five years after leaving employment with a firm. More information about qualifying for the programs implemented by the new rules is available at the EVEP and MQP program pages linked here.
FIS 0523 (Michigan Non-FINRA Broker-Dealer Renewal)
CSCL/SEC-0524 (Michigan Issuer-Agent Renewal)
Form ADV (Uniform Application for Investment Adviser Registration)
Ford BD (Uniform Application for Broker-Dealer Registration)
Form BDW (Uniform Request for Broker-Dealer Withdrawal)
Form U-1 (Uniform Application to Register Securities)
Form U-4 (Uniform Application for Securities Industry Registration or Transfer)
Form u-5 (Uniform Termination Notice for Securities Industry Registration)
Notice of Website Operator (M.I.L.E.)
SEC's Form 1-A (Regulation A Offering Statement)
Form ADV Part (Part 2 of the Uniform Application for Investment Adviser Registration)
Form ADV-W (Notice of Withdrawal from Registration as Investment Adviser)
Electronic Filing Depository (EFD)
Financial Industry Regulatory Authority (FINRA)
North American Securities Administrators Association (NASAA)
Old Stock and Bond Certificates
SEC's Electronic Data Gathering, Analysis, and Retrieval System (EDGAR)
SEC's Investment Adviser Public Disclosure (IAPD)
U.S. Commodity Futures Trading Commission
U.S. Securities and Exchange Commission (SEC)
Financial Industry Regulatory Authority (FINRA) Securities Helpline for Seniors
Department of Licensing and Regulatory Affairs (LARA)
Corporations, Securities & Commercial Licensing Bureau (CS&CL)
Securities and Audit Division
Address: PO Box 30018, Lansing, MI 48909
Overnight Mail (FedEx/UPS): 2407 N. Grand River Ave, Lansing, MI 48906
Phone: (517) 335-5237
Fax: (517) 763-0039
Email: LARA-CSCL-Securities-Audit@michigan.gov
