N.Y. Comp. Codes R. & Regs. tit. 13 § 10.4

Current through Register Vol. 46, No. 43, October 23, 2024

Section 10.4 - Supplemental salesperson's statement for salespersons employed by a non-FINRA member firm

(a) Every salesperson of securities employed by a non-FINRA member firm, and who has already filed a salesperson's statement or a Form U4 with the Department of Law of the State of New York shall file a Form M-4, supplemental salesperson's statement, whenever any of the following changes have taken place to indicate the change of information originally filed:

(1) Name. The change of name of the registrant.

(2) Address. Change of residence address of the registrant.

(3) Termination of employment. Termination of employment as a salesperson, giving the date of termination and reason therefor.

(4) Change of employment. Information as to a change of employment, giving the name and address of the new firm and the date of commencement of employment as a salesperson.

(5) Injunctions and other proceedings. Each registrant shall file a supplemental salesperson's statement upon each occasion when the registrant becomes the subject of any criminal action, or is convicted of any misdemeanor or felony, or is the subject of any pending civil action commenced by a governmental agency relating to the offer or sale of securities or commodities, or is the subject of any injunction or cease and desist order relating to the offer or sale of securities or commodities.

(b) In lieu of the filing of a supplemental salesperson's statement, an executed current Form U4 may be filed to update or correct the information on an existing Form M-2, salesperson's registration, or to disclose employment by a different broker or dealer of a previously registered salesperson.

(c) In lieu of the filing of a supplemental salesperson's statement, a letter signed by the salesperson or by a principal officer, partner, sole proprietor or managing agent, as appropriate, containing information making an existing filing accurate and complete, may be filed for a securities salesperson if a Form U4 has been previously filed with the Department of Law for that salesperson.

(d) A current Form U5 may be used to report the termination of a salesperson.

N.Y. Comp. Codes R. & Regs. Tit. 13§ 10.4

Amended New York State Register July 3, 2018/Volume XL, Issue 27, eff. 7/3/2018

Amended New York State Register December 2, 2020/Volume XLII, Issue 48, eff. 12/2/2020