Or. Admin. Code § 441-205-0100

Current through Register Vol. 64, No. 1, January 1, 2025

Section 441-205-0100 - Discretionary Accounts

(1) The term "Fraudulent, Deceptive, or Manipulative Act or Practice," as used in these rules, is hereby defined to include any act of any broker-dealer or associated person designed to effect with or for any customer's account with respect to which he is vested with any discretionary power, any transactions of purchase or sale which are excessive in size or frequency in view of the financial resources and character of such account.

(2) The term "Fraudulent, Deceptive, or Manipulative Act or Practice," as used in these rules, is hereby defined to include any act of any broker-dealer designed to effect with or for any customer's account with respect to which such broker-dealer or associated person is vested with any discretionary power any transaction of purchase or sale, unless immediately after effecting such transaction such broker-dealer makes a record of such transaction, which record includes the name of such customer; the name, amount and price of the security; and the date and time when such transaction took place.

CC 12, f. 7-12-73, ef. 9-1-73, Renumbered from 815-030-0205.2-9 and 815-030-0160

Stat. Auth.: ORS 59

Stats. Implemented: ORS 59.205(2)