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Michigan Broker-Dealer Compliance
Michigan is a major Midwest financial hub. FIN Group provides fractional CCO services, Form BD filings, annual reviews, and exam support for Broker-Dealers operating here.
Who needs to register in Michigan
Any Broker-Dealer with a principal place of business in Michigan, or with clients located in Michigan above the de minimis threshold, must register with the Michigan Department of Licensing and Regulatory Affairs — Corporations, Securities & Commercial Licensing Bureau or — if eligible — with the SEC.
Michigan-specific nuance
Michigan requires a $200 RIA registration fee and mandates the CE requirement for IARs (NASAA Model Rule adopted).
Annual obligations for Broker-Dealers
The core federal calendar that applies on top of Michigan's requirements:
- Maintain FINRA membership and Form BD currency
- File quarterly FOCUS reports (Form X-17A-5)
- Maintain Written Supervisory Procedures (WSPs) covering all business lines
- Conduct annual Rule 3120 compliance testing and Rule 3130 CEO certification
- Comply with Reg BI for all retail recommendations (Form CRS required)
- Run AML program under FinCEN with annual independent testing
How FIN Group helps Michigan Broker-Dealers
Fractional CCO
A named, senior CCO who owns your Form BD filings, annual review, and exam response.
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InvestPrep handles KYC, AML, and subscription documents end-to-end.
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Also exploring a different registration type? Michigan RIA · Michigan Private Fund
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