Section 230-RICR-50-05-2.4 - DefinitionsA. In addition to the terms defined in R.I. Gen. Laws § 7-11-101, when used in this Part, the following terms shall have the following meanings:1. "Broker-dealer services" means the investment banking or securities business as defined in paragraph (p) of Article 1 of the By-Laws of FINRA.2. "Department" means the Securities Division of the Rhode Island Department of Business Regulation.3. "Director" means the Director of the Rhode Island Department of Business Regulation or his or her designee.4. "Financial institution" means federal and state chartered banks, savings and loan associations, savings banks, credit unions, and the service corporations of such institutions located in Rhode Island.5. "FINRA" means the Financial Industry Regulatory Authority, which is a self-regulatory organization as that term is defined in R.I. Gen. Laws § 7-11-101(23).6. "IARD" means the Investment Adviser Registration Depository, which is operated by FINRA.7. "Networking arrangements" means a contractual or other agreement between a broker-dealer and a financial institution pursuant to which the broker-dealer conducts broker-dealer services on the premises of such financial institution where retail deposits are taken.8. "RIUSA" means the Rhode Island Uniform Securities Act set forth in R.I. Gen. Laws § 7-11-101 et seq.9. "SEC" means the United States Securities and Exchange Commission.230 R.I. Code R. 230-RICR-50-05-2.4
Amended effective 11/4/2024