West Virginia — Investment Adviser Bond
For a covered West Virginia adviser unable to meet or maintain the required $25,000 net capital, the rules provide a $10,000 bond. The Securities Commission must accept the filing; a provider application alone does not make the bond effective for registration.
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- Recorded state
- West Virginia
- Bond type
- Broker-Dealer / Investment Adviser Bond
- Category
- Financial services
What this bond does
The prescribed obligation secures the registrant's Chapter 32 duties, performance of securities-sale contracts, and accounting for money and securities held for investors. The Commissioner may set additional conditions in the accepted form.
- Who needs it
- An advisory firm whose West Virginia Securities Commission file calls for the financial-security substitute. Describe custody, discretion, principal office and registration status instead of assuming every federal-covered adviser needs this State bond.
- Who it protects
- The rule binds principal and surety to the State of West Virginia. It provides for suit by persons with a covered Section 32-4-410 cause of action. These statutory claim rights do not promise protection against every decline in investment value.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- West Virginia Secretary of State: posted securities rules, sections 11.02(e) and 13.02 (opens in a new tab)Checked October 26, 2026
- West Virginia Code 32-2-202: registration and financial-security authority (opens in a new tab)Checked October 26, 2026
- NASAA: West Virginia adviser registration, financial and bonding requirements (opens in a new tab)Checked October 26, 2026
- West Virginia Securities Commission: adviser filings and form index (opens in a new tab)Checked October 26, 2026
Have these ready
- Identify the registered firm, principal office and Securities Commission request.
- Document custody, discretion and the actual net-capital computation.
- Confirm the $10,000 substitute and State obligation for the covered file.
- Obtain the prescribed or Commissioner-accepted undertaking and execution directions.
- Arrange approval and the current Surety Bond Effective Notice.
Questions about this bond
Is the bond $25,000 or the amount of my capital shortfall?
The rules distinguish the $25,000 net-capital requirement from the $10,000 substitute bond. They do not describe a deficiency-rounding formula. Confirm that the Commission requires this route for the firm before submitting the provider application.
Is the document effective as soon as I buy it?
The rule requires Commissioner approval for regulatory effectiveness. NASAA also lists a Surety Bond Effective Notice in initial and renewal financial submissions. Keep acceptance and current evidence separate from the provider's application or payment confirmation.
What happens after Purchase Now?
Propeller's West Virginia investment-adviser application opens in a new tab. Match the firm, State obligation, accepted $10,000 requirement and dates. Review and execute the issued undertaking, obtain the required effective notice, and submit the file for Securities Commission approval as directed.