Section 36b-31-7a - Broker-dealer applicant experience requirements(a) Each applicant for broker-dealer registration shall (1) have been engaged in the securities business as a broker-dealer or agent spending a major portion of his working time in the securities business for at least three years within the seven calendar years preceding the date of the application or (2) be otherwise qualified by knowledge and experience as determined by the commissioner. An attorney who has had at least three years of substantial experience in the practice of securities law, an accountant who has had at least three years of substantial experience in the sale of securities and any other person who can demonstrate equivalent knowledge and experience in the sale of securities may be deemed to have sufficient experience for purposes of this subsection.(b) If the applicant for broker-dealer registration is a partnership, at least two of its active partners, or if there is only one active partner then that one, shall meet the experience requirements of section (a) of this section.(c) If the applicant for broker-dealer registration is a corporation, at least two of its active officers, or if there is only one active officer then that one, shall meet the experience requirements of subsection (a) of this section.(d) Persons acting as managers shall meet the experience requirements of subsection (a) of this section. For purposes of this subsection, "manager'' means (1) any person who supervises sales personnel either directly or indirectly or (2) any person responsible for the day-to-day operation and supervision of a broker-dealer office located in this state.(e) A qualifying examination may be substituted for the experience requirements of this section if the commissioner consents.Conn. Agencies Regs. § 36b-31-7a
Effective August 22, 1994; Transferred July 3, 1995