Section 36b-31-9a - Statement of financial condition(a) Each applicant for initial registration as a broker-dealer or investment adviser shall file as part of its application an original statement of financial condition in such detail as to disclose the nature and amount of assets, liabilities and capital as of a date within 60 days of the application filing date. The applicant shall attach to the statement an oath or affirmation made before a person authorized to administer oaths or affirmations indicating that, to the best of the knowledge and belief of the person making the oath or affirmation, the statement of financial condition is true and correct. If the broker-dealer or investment adviser applicant is a sole proprietorship, the oath or affirmation shall be made by the proprietor; if a partnership, by a general partner; and if a corporation, by a duly authorized officer. If the applicant is a broker-dealer and has been in business for one year or more, the statement of financial condition shall be examined in accordance with generally accepted auditing standards and reported upon with an opinion expressed by an independent certified public accountant or independent public accountant. If the applicant is an investment adviser who has been in business for one year or more and (1) will have custody or possession of clients' funds or securities or (2) will require the prepayment of advisory fees six months or more in advance and in excess of $500 per client, the statement of financial condition shall be examined in accordance with generally accepted auditing standards and reported upon with an opinion expressed by an independent certified public accountant or independent public accountant.(b) The commissioner may make temporary specific exceptions or deferments regarding the requirements in subsection (a) of this section upon a showing of unusual circumstances. Such temporary specific exceptions or deferments may only be made upon a written request to the commissioner and only written approval from the commissioner shall be regarded as binding.Conn. Agencies Regs. § 36b-31-9a
Effective August 22, 1994; Transferred July 3, 1995