710 Ind. Admin. Code 4-12-8

Current through October 31, 2024

Section 710 IAC 4-12-8 - Parties to proceedings; limited participation; intervention

Authority: IC 23-19-6-5

Affected: IC 23-19-4-12

Sec. 8.

(a) Any interested official, department, commission, municipality, or other political subdivision of the state of Indiana, the Securities and Exchange Commission, or other interested:

(1) representative;

(2) agency;

(3) authority; or

(4) instrumentality;

of the United States may become a party to any proceeding by filing a written motion.

(b) In proceedings under IC 23-19-4-12, any associated person of a broker-dealer, whose interests may be affected by the proceedings, shall be entitled to participate as a party. If he or she participates generally in the proceedings or files a notice of appearance, he or she shall be deemed a party of record and shall be given notices of intermediate developments in the proceedings. In any event, he or she may inform himself or herself of the developments by:

(1) attendance at the hearings;

(2) examination of the record; or

(3) arrangement with a party of record;

so that he or she can determine whether he or she desires to be heard at any time.

(c) Any person, at the discretion of the commissioner or other representative of the division conducting the hearing, may be given leave to be heard in any proceeding as to any matter affecting his or her interests. Requests for leave to be heard shall:

(1) be in writing;

(2) set forth the nature and extent of the applicant's interest in the proceeding; and

(3) except where good cause for late filing is shown, be filed not later than two (2) days prior to the date fixed for the commencement of the hearing.

And, where a respondent is required to answer, requests for leave to be heard shall be filed within the time provided for the filing of the answer. The hearing officer may direct any person requesting leave to be heard to submit to examination as to his or her interest in the proceeding.

(d) Leave to be heard under subsection (c) may include any rights of a party as the hearing officer may deem appropriate. Persons granted leave to be heard shall be bound, except as may otherwise be determined by the hearing officer, by any stipulation between the parties to the proceeding with respect to procedure. Except as may otherwise be specifically directed by the hearing officer at the request of any person granted leave to be heard, the person shall be expected to inform himself or herself by attendance at public hearings and by examination of the public files of the division as to the various steps taken in the proceeding including:

(1) continuances;

(2) the filing of amendments;

(3) answers, motions, or briefs by parties to the proceeding; or

(4) the fixing of time for any action;

and the person shall not be entitled as of right to other notice thereof or to service of copies of documents.

(e) Except as provided in subsections (a) and (b), no person shall be admitted as a party to a proceeding by intervention unless the commissioner is satisfied, on the basis of the written application of the person and any evidence taken in connection therewith, that his or her participation as a party will be in the public interest and that leave to be heard under subsections (c) and (d) would be inadequate for the protection of his or her interests.

(f) Any person who has not complied with the requirements of subsection (c), in the discretion of the hearing officer, may be permitted to file a memorandum or make an oral statement of his or her views, and the hearing officer may accept for the record written communications received from any person. Unless offered and admitted as evidence of the truth of the included statements, the memoranda and oral or written communications submitted under this subsection shall be considered only to the extent that the statements therein made are otherwise supported by the record.

(g) The commissioner may:

(1) by order in any case, modify the provisions of this section that would otherwise be applicable; and

(2) impose the terms and conditions on the participation of any person in any proceeding as he or she may deem necessary or appropriate in the public interest.

710 IAC 4-12-8

Securities Division; 710 IAC 4-12-8; filed Jun 28, 2010, 2:36 p.m.: 20100728-IR-710100044FRA

Readopted filed 5/12/2016, 1:47 p.m.: 20160608-IR-710160136RFA

Readopted filed 11/30/2022, 4:01 p.m.: 20221228-IR-710220301RFA