Sec. 69W-600.012 - Rules of Conduct

§ 69W-600.012. Rules of Conduct

(1) Confirmation of Transactions: Every dealer registered in this state, including those defined as issuer/dealers under Rule 69W-200.001, F.A.C., shall give or send to the customer a written confirmation at or before completion of each transaction. Such confirmation shall set forth at least the following:

(a) A description of the security purchased or sold, the date of the transaction, the price at which the security was purchased or sold and any commission charged;

(b) Designation of capacity in which the dealer was acting: as principal for its own account, as agent for the customer, as agent for some other person, or as agent for both the customer and some other person;

(c) Where the dealer acted as agent for the customer, either the name of the contraparty and whether like commissions were charged, or the fact that the information will be furnished upon the request of the customer, if the information is known to, or with reasonable diligence may be ascertained by, the dealer;

(d) Compliance with SEC Rule 10b-10 (17 C.F.R. § 240.10b-10), which is incorporated by reference in Rule 69W-200.002, F.A.C., and the confirmation, preparation and disclosure requirements of SEC Rule 17a-3 (17 C.F.R. § 240.17a-3) or MSRB Rules G-8 and G-15, which are incorporated by reference in Rule 69W-200.002, F.A.C., shall be deemed compliance with this rule.

(2) A dealer shall not enter into any contract with a customer if the contract contains any condition, stipulation or provision binding the customer to waive any rights under Chapter 517, F.S., or any rule or order thereunder. Any such condition, stipulation or provision is void.

(3) No dealer or investment adviser shall permit or effect a withdrawal of any part of its net worth, including subordinated indebtedness, whether by redemption, retirement, repurchase, repayment or otherwise, that would cause its net capital or its aggregate indebtedness to violate any provisions of Office of Financial Regulation Rules 69W-600.0151 and 69W-600.0161, F.A.C., without prior written approval of the Office of Financial Regulation.

(4) Each dealer and investment adviser shall provide each customer with a confirmed copy of all contracts or agreements between such dealer or investment adviser and such customer within a timely manner.

(5) It shall be a violation of Section 517.301(1), F.S., for any dealer or associated person to engage in any "device, scheme, or artifice to defraud" which shall include selling or effecting the purchase of any security into, in, or from offices in this state in violation of:

(a) Sections 9, 10, 11A, 15(c) or 15(g) of the Securities Exchange Act of 1934 (15 U.S.C. §§ 78i, 78j, 78k-1, 78o(c) or 78o(g)), which are incorporated by reference in Rule 69W-200.002, F.A.C.;

(b) SEC Rule 9b-1 (17 C.F.R. § 240.9b-1), which is incorporated by reference in Rule 69W-200.002, F.A.C.;

(c) SEC Rules 10b-1, 10b-3, 10b-5, 10b5-1, 10b5-2, 10b-9, 10b-10, 10b-16, 10b-17, 10b-18 and 10b-21 (17 C.F.R. §§ 240.10b-1, 240.10b-3, 240.10b-5, 240.10b5 - 1, 240.10 b 5 - 2, 240.10b-9, 240.10b-10, 240.10b-16, 240.10b-17, 240.10b-18 and 240.10b-21), which are incorporated by reference in Rule 69W-200.002, F.A.C.;

(d) SEC Rules 15c1-1 through 15c1-3 and 15c1-5 through 15c1-9 (17 C.F.R. §§ 240.15c1 - 1 through 240.15 c 1 - 3 and 240.15 c 1 - 5 through 240.15 c 1 - 9), which are incorporated by reference in Rule 69W-200.002, F.A.C.;

(e) SEC Rules 15c2-1, 15c2-4, 15c2-5, 15c2-7, 15c2-8, 15c2-11 and 15c2-12 (17 C.F.R. §§ 240.15c2 - 1, 240.15 c 2 - 4, 240.15 c 2 - 5, 240.15 c 2 - 7, 240.15 c 2 - 8, 240.15 c 2 - 11 and 240.15 c 2 - 12), which are incorporated by reference in Rule 69W-200.002, F.A.C.;

(f) SEC Rules 15g-1 through 15g-6, 15g-8 and 15g-9 (17 C.F.R. §§ 240.15g-1 through 240.15g-6, 240.15g-8 and 240.15g-9), which are incorporated by reference in Rule 69W-200.002, F.A.C.;

(g) Regulation M (17 C.F.R. 242.100 through 242.105), which is incorporated by reference in Rule 69W-200.002, F.A.C., or

(h) SEC Rule 601 (17 C.F.R. § 242.601), which is incorporated by reference in Rule 69W-200.002, F.A.C.

(New 12-5-79, Amended 9-20-82, Formerly 3E-600.12, Amended 12-25-89, 10-14-90, 8-1-91, 6-16-92, 1-11-93, 4-11-94, 1-3-99, 8-19-99, 10-30-03, Formerly 3E-600.012, Amended 11-22-10, Amended by Florida Register Volume 40, Number 175, September 9, 2014 effective 9-22-14, Amended by Florida Register Volume 42, Number 213, November 1, 2016 effective 11-15-16.)

Rulemaking Authority 517.03(1) FS. Law Implemented 517.121, 517.301(1) FS.

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