Kan. Admin. Regs. § 122-3-5 - Investment transactions; requirements for brokers and dealers

Current through Register Vol. 40, No. 39, September 30, 2021

(a) Investment transactions shall be conducted only with qualified institutions. Qualified institutions shall be limited to:
(1) qualified depository banks;
(2) the federal reserve bank in Kansas City, Missouri;
(3) primary government securities dealers, as defined in K.S.A. 75-4209 and amendments thereto;
(4) broker-dealers engaged in the business of selling government securities which are registered in compliance with section 15 or 15C of the securities exchange act of 1934 and K.S.A. 17-1254, and amendments thereto; or
(5) direct issuers or dealers of qualified commercial paper.
(b) Before conducting any transactions, each broker-dealer conducting investment transactions with the board shall document compliance with registration requirements by providing to the board:
(1) proof of certification by the national association of security dealers;
(2) proof of Kansas registration; and
(3) upon request of the board or its designee:
(A) a copy of the broker-dealer's most recent, audited annual financial statement; and
(B) a copy of the broker-dealer's most recent, unaudited quarterly financial statement.

Notes

Kan. Admin. Regs. § 122-3-5
Authorized by and implementing K.S.A. 1995 Supp. 75-4232, as amended by L. 1996, Ch. 254, Sec. 26 and K.S.A. 1995 Supp. 75-4209, as amended by L. 1996, Ch. 254, Sec. 17; effective, T-122-7-27-95, July 27, 1995; effective Nov. 17, 1995; amended Jan. 24, 1997.

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