Rhode Island Securities Licensing (2026): Exams & Registration
Navigate Rhode Island's securities licensing for broker-dealers, investment advisers, and agents. Understand state-specific requirements, forms, fees, and compliance.
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Rhode Island requires broker-dealers, agents, investment advisers, and investment adviser representatives to register with the Department of Business Regulation (DBR) Securities Division. This is mandated under the Rhode Island Uniform Securities Act (R.I. Gen. Laws § 7-11-101 et seq.), unless specific exemptions apply. Registration involves filing through FINRA's CRD or IARD systems. It also requires meeting examination requirements, such as the Series 7, 63, or 65. Furthermore, registrants must adhere to ongoing compliance obligations, including annual renewals and record-keeping.
Rhode Island Securities Licensing Overview
Rhode Island regulates securities professionals under the Rhode Island Uniform Securities Act (R.I. Gen. Laws § 7-11-101 et seq.). The primary state regulator is the Rhode Island Department of Business Regulation (DBR), Securities Division. All broker-dealers, investment advisers, agents, and investment adviser representatives (IARs) conducting business in Rhode Island must register with the DBR, unless a statutory exemption is available.
The regulatory landscape involves two tiers:
State-registered vs. federally covered. Investment advisers managing assets above a certain threshold typically register with the SEC, not the state. Those managing less register with the DBR. Broker-dealers register with FINRA at the federal level and then file for state registration through the Central Registration Depository (CRD) system.
License types at a glance:
| License Type | Who It Covers | Filing System |
|---|---|---|
| Broker-Dealer | Firms buying | CRD |
Sources & Verification (5)
- Investment Advisers Act of 1940 (15 U.S.C. §80b-1 et seq.) — federal IA registration framework; firms under $100M AUM generally state-registered (NSMIA §203A).
- Securities Exchange Act of 1934 (15 U.S.C. §78a et seq.) — broker-dealer regulation, anti-fraud, and SEC supervisory authority.
- National Securities Markets Improvement Act of 1996 (NSMIA, Pub. L. 104-290) — preempts state registration of federal covered advisers and securities; states retain anti-fraud.
- Uniform Securities Act (NASAA model) — adopted with variations by most states; governs IAR registration, blue sky filings, and exemptions.
- FINRA Series 65 / 63 / 66 / 7 — uniform state and federal exams administered via Prometric; pass scores and content outlines published by NASAA/FINRA.
Last verified: June 7, 2026
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How we verify: 9 source adapters (FAA, DSIRE, IRS, OpenStates, etc.) → AI draft → AI editor → AI polish → spot human review.
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- Series 65 Exam Prep — Investment Adviser LawThe most common path to becoming a Registered Investment Adviser Rep in any state. Covers Uniform Securities Act, fiduciary duty, and fraud prevention.
- Series 66 Exam Prep — Combined State LawCombines Series 63 + 65 into a single test for candidates already holding Series 7. Required in most states for IAR registration.
- Series 7 Exam Prep — General Securities RepFINRA's broker-dealer rep license. Required by every state before selling general securities. Recently revised for the post-2018 split format.
- Investment Adviser Compliance Manual — Form ADV & CustodyHow to navigate the SEC/state Form ADV split, custody rule, and code of ethics. The reference RIA firms hand new compliance hires.