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Current through Register Vol. 60, No. 12, December 1, 2021
(1) A broker-dealer or state investment adviser applicant or licensee must file an amendment to its application and a broker-dealer, state or federal covered investment adviser, must file an amendment to the application of their respective salespersons or investment adviser representatives if there is a material change to any information on the original application or previous amendments including:
(a) Bankruptcy;(b) Civil or criminal actions described on the application;(c) Disciplinary disclosure answers on the application;(d) Change in or additional affiliated business entity name;(e) Change in ownership other than as provided in OAR 441-175-0070(7);(f) Change in form of organization;(g) Change of address; or(h) Change in scope of business.(2) Amendments must be filed within 30 days of the occurrence of the material change. If a completed amendment cannot be filed within 30 days, the applicant or licensee shall file with the director within the 30 day limit a written notice containing available information, the reasons a complete amendment cannot be timely filed and a specific date on which the completed amendment will be filed.
(3) Amendments to the application shall be made on:
(a) A Form BD for broker-dealers;(b) A Form ADV for state investment advisers; and(c) A Form U-4 for salespersons or investment adviser representatives.(4) Amendments to the application shall be filed with:
(a) The CRD for broker-dealers who are or will be members of the FINRA and their salespersons; except for changes in designated supervisor, which shall be filed with the director;(b) The IARD for any investment advisers or investment adviser representatives who have previously filed applications through IARD; or(c) The director for all other persons.(5) Filing amendments to a salesperson or investment adviser representative application shall be the responsibility of both the salesperson or investment adviser representative and the employing broker-dealer, or state or federal covered investment adviser.
(6) There is no fee required in connection with an amendment filed pursuant to this rule.
Or. Admin. R. 441-175-0105
FCS 1-1992, f. 1-31-92, cert. ef. 2-1-92; FCS 2-1994, f. & cert. ef. 1-7-94; FCS 7-2000; f. & cert. ef. 6-2-00; FCS 9-2001, f. & cert. ef. 9-28-01; FCS 1-2012, f. & cert. ef. 7-9-12
Forms referenced are available from the agency.
Stat. Auth.: ORS 59.175, 59.185 & 59.285
Stats. Implemented: ORS 59.175 & 59.185
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