710 Ind. Admin. Code 4-7-7

Current through December 4, 2024

Section 710 IAC 4-7-7 - Notice of changes in circumstances

Authority: IC 23-19-6-5

Affected: IC 23-19-4-11

Sec. 7.

Every broker-dealer or applicant shall immediately notify the division in writing of any material change in any information, exhibits, or schedules disclosed in its application. A correction amendment shall be filed at the time of, or prior to, the occurrence or discovery of the change. Material changes include, but are not limited to, the following:

(1) Change in:

(A) firm name;

(B) ownership;

(C) management;

(D) control; or

(E) any of its:

(i) partners;

(ii) officers; or

(iii) persons in similar positions.

(2) Change in principal office address.

(3) Change in principal office or branch office managers, provided the offices are located in Indiana.

(4) Change in the:

(A) type of entity;

(B) general plan or character of the broker-dealer business;

(C) method of operation; or

(D) type of securities in which it is dealing or trading.

(5) Insolvency, either in the sense that liabilities exceed assets or in the sense that obligations cannot be met as they mature.

(6) Change with the net liquid capital or bond requirements, including:

(A) dissolution;

(B) liquidation; or

(C) noncompliance.

(7) Termination of business or discontinuance of activities as a broker-dealer.

(8) The broker-dealer or applicant is the subject of:

(A) an order, proceeding, or the institution of a proceeding by or in any:

(i) civil court;

(ii) criminal court; or

(iii) administrative agency;

involving any aspect of the securities business;

(B) any felony; or

(C) a U.S. Post Office fraud order.

710 IAC 4-7-7

Securities Division; 710 IAC 4-7-7; 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