S.D. Admin. R. 20:08:03:08

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:08:03:08 - Written supervisory procedures

Each broker-dealer shall establish and keep current a set of written supervisory procedures and a system for applying such procedures, which may be reasonably expected to prevent and detect any violations of SDCL chapter 47-31 B and the rules and orders thereunder. The procedures shall include the designation by name or title of a number of supervisory employees reasonable in relation to the number of its registered agents, offices, and transactions in this state. A complete set of the procedures and system for applying them shall be kept and maintained at every office.

S.D. Admin. R. 20:08:03:08

27 SDR 5, effective 7/31/2000; 30 SDR 211, effective 7/1/2004.

General Authority: SDCL 47-31B-605(a)(1).

Law Implemented: SDCL 47-31B-411(c).