Haw. Code R. § 16-39-403 - Application

(a) An application for registration of a broker-dealer shall be filed on Form BD, which may be filed with the commissioner directly or through the CRD. If Form BD is filed with the commissioner directly, it shall be originally executed.

(b) The application shall be filed together with the following:

(1) The application fee specified in section 16-39-103;

(2) Evidence of compliance with all applicable requirements of section 16-39-402; and

(3) Financial statements consisting of either:

(A) A balance sheet as of a date within thirty days of filing, verified by a duly authorized officer, or the equivalent, of the applicant and notarized, or if the applicant has been engaged in business one year or more preceding, an audited financial statement as of the last fiscal year, together with a balance sheet as of a date within thirty calendar days of filing, verified by a duly authorized officer, or the equivalent, of the applicant and notarized; or

(B) If the applicant is registered under the Securities Exchange Act, the applicant shall include with its application a copy of its most recent annual financial statement.

(c) The commissioner may also require additional information regarding the applicant's previous history, record, and association, including without limitation the following:

(1) Disclosure of any injunction or administrative order or conviction of a misdemeanor involving a security or any aspect of the securities business, and any conviction of a felony;

(2) The applicant's financial condition and history;

(3) Disclosure as to whether the broker-dealer, or any person employed by or associated in business with the broker-dealer, is subject to any disqualification which would be a basis for denial, suspension, or revocation of registration of the broker-dealer under section 485A-412, HRS; and

(4) Any other information that the commissioner deems necessary to establish the qualifications of the applicant.

(d) Additional exhibits or information not specifically required by the application may be submitted by the applicant.

(e) The commissioner may require the applicant to file additional information if the information is necessary for the commissioner to determine whether to approve or deny the application. In accordance with the provisions of section 16-39-105, any additional information requested by the commissioner shall be requested in writing within forty-five calendar days of the commissioner's receipt of the application.

Notes

Haw. Code R. § 16-39-403

[Eff 6/30/08] (Auth: HRS § 485A-606) (Imp: HRS §§ 485A-406, 485A-410) Am and comp 11/18/2023