Kansas Securities License Requirements: A Complete Guide

Navigate Kansas securities license requirements for broker-dealers, agents, and investment advisers. Understand application steps, exams, fees, and state regulations.

Verified May 14, 202610 statute sources

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KansasSecurities / blue sky licensing

Quick Answer: Kansas Securities Licensing Overview

Kansas requires registration for anyone acting as a broker-dealer, agent, investment adviser, or investment adviser representative (IAR) in the state. The Kansas Uniform Securities Act and Kansas Administrative Regulations govern this process. The Kansas Office of the Securities Commissioner (KOSC) administers state-level registration. FINRA oversees federal qualification exams and maintains the Central Registration Depository (CRD) and Investment Adviser Registration Depository (IARD) systems, where applications are filed.

The general process for most applicants includes:

Determining your role and the applicable registration category.
Passing the required FINRA and NASAA qualification exams.
Submitting your application through CRD (for broker-dealers and agents) or IARD (for investment advisers and IARs).
Paying state and system fees.
Clearing a background check and fingerprinting requirement.
Receiving KOSC approval before conducting securities business in Kansas.

Conducting securities business before registration is prohibited and can result in civil liability and criminal penalties.

Who Needs a Securities License in Kansas? Defining Key Roles

Broker-Dealers

A broker-dealer is any person, individual or firm, in the business of buying or selling securities for others' accounts or their own account. If your firm executes trades, underwrites securities, or operates as a market maker with Kansas clients, you need broker-dealer registration. Federally covered broker-dealers registered with the SEC must still notice-file with KOSC.

Agents (Registered Representatives)

An agent is an individual who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities. This is the standard "registered rep" role. You must register in Kansas if you are doing business with Kansas residents, even if you are already registered in another state.

Investment Advisers

An investment adviser is any person who, for compensation, engages in the business of advising others about securities. Advisers managing less than $100 million in assets under management (AUM) generally register at the state level with KOSC rather than with the SEC. Advisers managing more than the federal threshold register with the SEC but must notice-file with KOSC.

Investment Adviser Representatives (IARs)

An IAR is an individual who works for a registered investment adviser and provides investment advice, manages client accounts, or solicits advisory clients. IARs register through IARD and must meet Kansas exam requirements independently of their employer firm's registration.

Exemptions

Kansas law provides exemptions for certain categories, including:

Agents whose transactions are limited to exempt securities or exempt transactions.
Investment advisers with no place of business in Kansas who have five or fewer Kansas clients during a 12-month period (the de minimis exemption).
Advisers whose only Kansas clients are institutional investors (banks, insurance companies, registered investment companies, and similar entities).
Broker-dealers and agents transacting exclusively with other broker-dealers.

If you believe an exemption applies to you, confirm it in writing with KOSC before relying on it.

The Application Process: Steps to Obtain Your Kansas Securities License

Step 1: Determine Your Filing System

Broker-dealers and agents file through FINRA's CRD system at finra.org.
Investment advisers and IARs file through the IARD system, also accessible via FINRA's website.

Both systems require firm and individual accounts to be established before forms can be submitted.

Step 2: Complete the Correct Form

Form U4 (Uniform Application for Securities Industry Registration or Transfer): Used by agents and IARs. It discloses employment history, disciplinary history, and other background information. Filed and maintained in CRD.
Form BD (Uniform Application for Broker-Dealer Registration): Used by broker-dealer firms seeking state registration or notice-filing. Filed in CRD.
Form ADV (Uniform Application for Investment Adviser Registration): Used by investment adviser firms. Part 1 is filed in IARD; Part 2 (the brochure) is delivered to clients.

Step 3: Fingerprinting and Background Checks

All applicants must submit fingerprints for an FBI and state criminal background check. Broker-dealer agents submit fingerprints through FINRA's process. Investment adviser representatives should consult KOSC directly for current fingerprinting procedures, as requirements can be updated. Do not assume the process is identical across categories.

Step 4: Firm-Level Requirements

Broker-dealer firms must meet minimum net capital requirements, often aligned with federal standards. Kansas may have specific net capital thresholds. Consult KOSC directly, as figures are subject to regulatory update and vary by business model.

Surety bond requirements may apply to broker-dealers and investment advisers. Bond amounts vary by jurisdiction and firm type. Confirm current bond minimums with KOSC before purchasing a bond.

Step 5: Kansas State Review

After submission through CRD or IARD, KOSC reviews the application. The review period varies. KOSC may request additional information or documentation. Do not conduct securities business in Kansas until you receive written confirmation of registration approval.

Required Examinations and Potential Waivers for Kansas Securities Professionals

Exams for Agents (Registered Representatives)

Agents registering in Kansas must pass:

Series 7 (General Securities Representative Qualification Examination): This is the primary FINRA exam for broker-dealer agents. It covers equity and debt securities, options, retirement accounts, and regulatory fundamentals. Administered by FINRA.
Series 63 (Uniform Securities Agent State Law Examination): A NASAA exam covering state securities law, the Uniform Securities Act, and ethical practices. Kansas requires this for agents who hold a Series 7.

Some agents in limited product lines may qualify with a different product-specific exam instead of the Series 7. Consult KOSC for current accepted alternatives.

Exams for Investment Adviser Representatives

IARs must pass one of the following:

Series 65 (Uniform Investment Adviser Law Examination): Covers investment adviser regulations, ethics, and investment concepts. This is required if the IAR does not hold a Series 7.
Series 66 (Uniform Combined State Law Examination): Combines the content of the Series 63 and Series 65. A co-requisite Series 7 must be held for this exam to be valid for IAR registration.

Exams for Principals

Broker-dealer principals (supervisors and branch managers) must pass the Series 24 (General Securities Principal Qualification Examination), in addition to the underlying representative exam.

Examination Waivers

Kansas may allow waivers of the Series 65 exam for IARs who hold certain professional designations in good standing. Designations that typically qualify include:

Certified Financial Planner (CFP)
Chartered Financial Analyst (CFA)
Chartered Financial Consultant (ChFC)
Chartered Investment Counselor (CIC)
Personal Financial Specialist (PFS)

Confirm the current list of accepted designations with KOSC before relying on a waiver, as NASAA periodically updates the approved list, and Kansas must formally adopt changes.

Scheduling Exams

FINRA exams are scheduled through Prometric testing centers. NASAA exams (Series 63, 65, 66) are also administered through Prometric. Visit finra.org or nasaa.org for scheduling links and current exam content outlines.

Understanding Kansas Securities Licensing Fees and Renewal Procedures

Fee Tables

The source material available for this page does not include confirmed current fee schedules from KOSC. Fees are set under Kansas law. The table below reflects the categories you will encounter. Verify all current dollar amounts directly with KOSC or through the CRD/IARD system before filing.

License Type	Initial Application Fee	Annual Renewal Fee
Broker-Dealer (firm)	Varies, consult KOSC	Varies, consult KOSC
Agent (individual)	Varies, consult KOSC	Varies, consult KOSC
Investment Adviser (firm)	Varies, consult KOSC	Varies, consult KOSC
IAR (individual)	Varies, consult KOSC	Varies, consult KOSC

CRD and IARD also charge their own processing fees separate from Kansas state fees. FINRA publishes the current CRD/IARD fee schedule at finra.org.

Renewal Deadlines

Securities registrations in Kansas renew annually. The standard renewal period runs through December 31, with the renewal window opening in the fourth quarter each year through the CRD and IARD systems. Missing the renewal deadline can result in the expiration of your registration, requiring a new application rather than a renewal filing.

Continuing Education

For agents: FINRA rules govern continuing education for registered representatives. This includes a Regulatory Element (computer-based training triggered by registration anniversaries and regulatory events) and a Firm Element (annual training designed by the broker-dealer). Kansas does not impose separate CE requirements beyond FINRA's program for agents.

For IARs: NASAA's IAR Continuing Education model rule requires IARs to complete 12 hours of CE annually, including 6 hours of products and practice content and 6 hours of ethics and professional responsibility content. Kansas may adopt the NASAA IAR CE requirement. Consult KOSC for the current effective date and any state-specific implementation details.

Consequences of Non-Compliance

Failure to renew on time, failure to complete CE, or material misstatements on Form U4 or Form ADV can result in suspension, revocation, or denial of registration under Kansas law. KOSC can also impose civil penalties and refer matters for criminal prosecution.

Next Steps: Resources and Contact Information for Kansas Securities Licensing

Kansas Office of the Securities Commissioner (KOSC)

KOSC is your primary point of contact for all state-level registration questions.

Website: ksc.ks.gov
Phone: (785) 296-3307
Mailing address: 700 SW Jackson St., Suite 710, Topeka, KS 66603

Contact KOSC's licensing division directly to confirm current fees, bond requirements, net capital thresholds, and any recent regulatory changes before you file. Do not rely solely on third-party summaries, including this page, for dollar figures.

Kansas Statutes and Regulations

Kansas securities laws and administrative regulations are available through the Kansas Legislature's official website at kslegislature.org and the Kansas Secretary of State's administrative regulations database at sos.ks.gov.

FINRA and NASAA Resources

FINRA: finra.org. Use this site to access CRD, schedule exams, review FINRA rules, and look up current CRD fee schedules.
NASAA: nasaa.org. Use this site to access the Series 63, 65, and 66 content outlines, the IAR CE model rule, and the current list of professional designations that qualify for Series 65 waivers.

When to Get Legal Counsel

If your situation involves any of the following, consult a securities attorney before filing:

Disciplinary history, criminal records, or regulatory actions disclosed on Form U4 or Form ADV.
Uncertainty about whether an exemption from registration applies to your business model.
Structuring a new firm and determining whether broker-dealer or investment adviser registration (or both) is required.
Responding to a KOSC inquiry, examination, or enforcement action.

The KOSC website lists resources for finding qualified legal counsel, and the Kansas Bar Association (ksbar.org) maintains a lawyer referral service.

Sources & Verification (10)

Permitting a municipal judge to initiate a psychiatric or psychological examination to determine competence and setting forth relevant procedures.
Reconciling multiple amendments to certain statutes.
Requiring landlords to return the security deposit and certain portions of rent payments that would be due when a dwelling unit is condemned due to action or inaction of the landlord.
Providing a sales tax exemption for certain purchases and sales by care to share cancer support group of Bourbon county, Kansas, inc.
Authorizing the sale or transfer of forfeited firearms under the Kansas standard asset seizure and forfeiture act to a licensed firearm dealer.
Requiring cause for evictions from residential property, modifying the petition and notice requirements for eviction cases and removing the requirement to post bond before the court may grant a continuance.
Authorizing a notice to appear to be issued for an unavailable witness or a material witness.
House Substitute for SB 229 by Committee on Commerce, Labor and Economic Development - Providing amendments, suspensions or repeals of employment security law provisions should follow specified review procedures by the legislature, authorizing the secretary of labor to recognize and approve employer-sponsored supplemental unemployment benefit plans if such plans meet specific criteria and integrating such plans into the employment security law, updating and reorganizing statutory language, enhancing federal conformity by incorporating references to federal laws and guidelines, updating temporary unemployment provisions and providing for eight weeks of temporary unemployment benefits, eliminating debt relief provisions for negative balance employers and other updates to the employment security law.
Reorganizing certain provisions that apply to foreign insurance companies seeking authorization to do business in Kansas, authorizing the suspension or revocation of a nonresident agent's license without notice and opportunity for a hearing following notification to the commissioner of insurance that such nonresident agent no longer holds a home state license and requiring agents and public adjusters to respond to inquiries from the commissioner.
Requiring state agencies to provide notice of revocation of administrative rules and regulations to the public and removing abolished and inactive state agencies from the agency review requirement.

Last verified: May 14, 2026

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