S.D. Admin. R. 20:08:03:05 - Waiver of certain broker-dealer records and financial requirements
Upon written application, the director may waive the requirements of §§ 20:08:03:02, 20:08:03:03, and 20:08:03:04 either unconditionally or on specified terms and conditions, any broker-dealer applicant or registrant not registered with the United States Securities and Exchange Commission or a member of a self-regulatory organization, who satisfies the director that, because of the special nature of its business, its financial position and the safeguards it has established for the protection of customer funds and securities, it is not necessary in the public interest or for the protection of investors to subject the applicant or registrant to the provisions of §§ 20:08:03:02, 20:08:03:03, and 20:08:03:04.
Notes
General Authority: SDCL 47-31B-605(a)(1), 47-31B-605(a)(3).
Law Implemented: SDCL 47-31B-103, 47-31B-411.
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