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For Securities Licensing

The physical locations for the Department of Banking and Securities are currently closed.  We are maintaining operations through electronic communication.

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We will still be accepting applications for investment advisers, broker dealers, investment adviser representatives and agents of brokers. 

All filings will continue to go through the CRD system as usual. We will contact you via email once an application is submitted.

Please contact us via email with any questions or concerns at RA-BNSECURITIESLIC1@pa.gov.


Pennsylvania State Registered Investment Advisers

 The Pennsylvania Department of Banking and Securities will be accepting financial statements electronically. PA-based Investment Advisers deemed to have custody and/or discretion must file financials.  Financial statements are due 120 days after the end of your fiscal year
 
All firms that require financials must submit them electronically.  Please use email address listed below to submit financial statements directly or to request further instructions on how to send secure.

Form ADV must be updated annually within 90 days after the end of your fiscal year.

All investment adviser representatives that were displaced due to Covid-19 must be properly registered.

Please direct all questions, financial statements and requests to  RA-BNSECURITIESLIC1@pa.gov 

Broker Dealers
 
All registered representatives of Broker Dealers that were displaced due to Covid-19 must be properly registered.
 
SEC Notice Filed Investment Advisers

All investment adviser representatives of Notice Filed IA's that were displaced due to Covid-19 must be properly registered.

Please email RA-BNSECURITIESLIC1@pa.gov with any additional questions.
 

News

2/1/2021 
The PENNSYLVANIA DEPARTMENT OF BANKING AND SECURITIES REMINDS
FIRMS TO CONTACT REGULATORS WITH ISSUES RELATED TO SOLARWINDS BREACH

The Pennsylvania Department of Banking and Securities (PADOBS) is reminding financial service registrants, state-registered investment advisers and intrastate broker-dealers, to report any known issues or concerns related to the recent SolarWinds cybersecurity incident to their primary securities regulator.

In December 2020, the federal government has reported that SolarWinds, a vendor that provides updating and monitoring software to numerous government agencies and private companies, was the victim of a breach that caused SolarWinds Orion Network Management Products to transmit malware to many of its clients, including federal, state, and local governments, as well as other private sector entities.

The U.S. Department of Homeland Security's Cybersecurity & Infrastructure Security Agency has issued an alert that describes the threat and provides guidance on how to address it. The alert is available here: https://www.cisa.gov/supply-chain-compromise.

The PADOBS is issuing this reminder to raise awareness among state registrants and to provide information and resources to help those affected to recover quickly and protect their clients and colleagues.

Any firm with known malicious versions of the SolarWinds Orion software should contact its primary regulator. State-registered investment advisers and intrastate broker-dealers in Pennsylvania should contact PADOBS at RA-BNSECURITIESLIC1@pa.gov .

Thank you,

Wendy Spicher
Deputy Secretary
Pennsylvania Department of Banking and Securities