N.J. Admin. Code § 13:47A-14.16 - Failure to cooperate
(a) A registered
person shall cooperate in any inquiry, investigation or inspection conducted
by, or on behalf of, the Bureau, for the purposes of determining whether or not
any person has violated or is about to violate any provision of the Uniform
Securities Law or any regulation or order promulgated thereunder. A registered
person's willful failure to cooperate, absent good cause or bona fide claim of
privilege, may be deemed by the Bureau a violation of the Uniform Securities
Law within the meaning of
N.J.S.A.
49:3-58(a)(2)(ii) and thus
subject the registered person to denial, suspension, or revocation of
registration.
(b) The following are
examples of conduct by a registered person that may be deemed a failure to
cooperate:
1. The failure to timely respond
by way of appearance or production of documents to a subpoena or order issued
by the Bureau pursuant to
N.J.S.A.
49:3-68 or as may otherwise be provided by
law;
2. The failure to answer any
question pertinent to inquiry made pursuant to
N.J.S.A.
49:3-68 or other applicable law unless the
response to said question is subject to a bona fide claim of
privilege;
3. The failure to grant
Bureau personnel access to the business premises of a registered person or to
the records and documents the registered person is required, by statute or
rule, to make available for inspection;
4. The failure to attend any scheduled
proceeding at which the registered person's appearance is directed. In the
event a registered person elects to retain counsel for the purpose of
representation in any such proceeding, it shall be the registered person's
responsibility to do so in a timely fashion. The failure of a registered person
to retain counsel, absent a showing of good cause therefor, shall not require
an adjournment of the proceeding;
5. The failure to timely respond or to
provide information requested pursuant to a demand under
N.J.S.A.
49:3-68 or any other applicable law;
or
6. Aiding or abetting another
registered person's failure to cooperate.
Notes
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