The Division must be notified within thirty (30) days
whenever the information contained in any application or amendment for
registration as a broker-dealer and/or agent changes in a material way or is or
becomes inaccurate or incomplete in any respect. All amendments for
FINRA-member broker-dealers and agents shall be filed through the CRD.
Amendments for non-FINRA-member broker-dealers and agents shall be submitted
directly to the Division. Events requiring notice shall include, but are not
limited to, the following:
A. A change
in ownership, management, form of organization or state of organization, or
incorporation or control of a broker-dealer;
B. A change in any of the broker-dealer's
officers, partners, or controlling persons;
C. The establishment or change in location or
mailing address of any office in this state;
D. A change in the name of a
broker-dealer;
E. If applicable,
any necessary modifications to ensure compliance with Subsection (B)(2) of Rule
5.01;
F. A change in type of entity, general plan,
character of business, method of operation, or type of securities in which
dealing or trading is being effected;
G. Termination of business or discontinuance
of activities as a broker-dealer; and
H. The naming of a broker-dealer, principal,
officer, and/or agent as a defendant or respondent in one or more of the
following instances:
1. Criminal allegations
involving securities or any aspect of the securities business, or any
felony.
2. Civil allegations
involving a security, any aspect of the securities business, any activity
alleging a breach of a fiduciary trust, or fraud.
3. Administrative allegations involving a
security, any aspect of the securities business, any activity alleging a breach
of a fiduciary trust, or fraud.
4.
Arbitration proceedings with allegations involving a security, any aspect of
the securities business, any activity alleging a breach of a fiduciary trust,
or fraud.
5. Any proceeding in
which an adverse decision could result in:
a.
A denial, suspension, or revocation, or the equivalent of those terms, of a
license, permit, registration, or charter;
b. The imposition of a fine or other penalty;
or
c. An expulsion or barring from
membership in an association or organization.
6. Judgments, liens, and bankruptcy filing
proceedings.
