Source: https://apps.leg.wa.gov/wac/default.aspx?cite=460-22B&full=true
Timestamp: 2020-06-07 10:41:32
Document Index: 734067274

Matched Legal Cases: ['§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460', '§ 460']

Chapter 460-22B WAC:
WACs > Title 460 > Chapter 460-22B
Chapter 460-22B WAC
SALESPERSONS OF BROKER-DEALERS
HTMLPDF 460-22B-010 Application.
HTMLPDF 460-22B-020 Cross-reference to other sections relating to securities salespersons.
HTMLPDF 460-22B-030 Registration procedure.
HTMLPDF 460-22B-040 Salesperson registration and examination.
HTMLPDF 460-22B-050 Expiration of salesperson license, renewal procedure, and delinquency fees.
HTMLPDF 460-22B-060 Duty to update application.
HTMLPDF 460-22B-090 Dishonest and unethical business practices—Salespersons.
460-22B-070 Dual representation and affiliation. [Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-070, filed 7/21/95, effective 8/21/95.] Repealed by WSR 97-03-122, filed 1/22/97, effective 2/22/97. Statutory Authority: RCW 21.20.100 and 21.20.450.
460-22B-080 Receipt of both securities sales commission and investment adviser fees. [Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-080, filed 7/21/95, effective 8/21/95.] Repealed by WSR 97-03-122, filed 1/22/97, effective 2/22/97. Statutory Authority: RCW 21.20.100 and 21.20.450.
PDF460-22B-010
The rules contained in this chapter apply to securities salespersons for broker-dealers other than mortgage paper broker-dealers.
[Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-010, filed 7/21/95, effective 8/21/95.]
PDF460-22B-020
Cross-reference to other sections relating to securities salespersons.
Securities salespersons of issuers are covered in chapter 460-23B WAC. Salespersons of mortgage paper broker-dealers are covered in chapter 460-33A WAC.
[Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-020, filed 7/21/95, effective 8/21/95.]
PDF460-22B-030
(1) Applications for registration of salespersons of broker-dealers that are members of a national securities association or national securities exchange must be submitted, together with the required fee, through the Central Registration Depository (CRD).
(2) Applications for registration of salespersons of broker-dealers not members of a national securities association or national securities exchange must be submitted to the securities division on Form U-4 together with the required fee and proof of passage of required examinations.
[Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-030, filed 7/21/95, effective 8/21/95.]
PDF460-22B-040
Salesperson registration and examination.
(1) Every applicant for registration as a securities salesperson of a broker-dealer shall pass the examinations specified below.
(a) For applicants seeking registration as salespersons of broker-dealers that are members of a national securities association or national securities exchange:
(i) The uniform securities agent state law examination (series 63); or the uniform combined state law examination (series 66); and
(ii) The appropriate qualifying examination administered by such national securities association.
(b) For all other applicants seeking registration as salespersons of broker-dealers:
(ii) The appropriate qualifying examination administered by the Financial Industry Regulatory Authority for the activities in which the salesperson is to engage.
(2) Any individual out of the business of effecting transactions in securities for less than two years and who has previously passed the required examinations in subsection (1)(a) or (b) of this section or the Washington state securities examination shall not be required to retake the examination(s) to be eligible to be relicensed upon application.
[Statutory Authority: RCW 21.20.450. WSR 14-10-040, § 460-22B-040, filed 4/29/14, effective 5/30/14. Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-040, filed 7/21/95, effective 8/21/95.]
PDF460-22B-050
PDF460-22B-060
A salesperson who has been issued a license under this chapter has a duty to update his or her application. If an event occurs that causes a salesperson's application to be inaccurate, the salesperson shall amend his or her application within thirty days of the occurrence of the event. The amendment shall be made as follows:
(1) For a salesperson of a broker-dealer that is a member of a national securities association or national securities exchange, through the Central Registration Depository; or
(2) For a salesperson of a broker-dealer that is not a member of a national securities association or national securities exchange, by filing an amended Form U-4 with the securities division.
[Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-060, filed 7/21/95, effective 8/21/95.]
PDF460-22B-090
Dishonest and unethical business practices—Salespersons.
The phrase "dishonest or unethical practices" as used in RCW 21.20.110 (1)(g) as applied to salespersons, is hereby defined to include any of the following:
(13) Effecting any transaction in, or inducing the purchase or sale of, any security by means of any manipulative, deceptive or fraudulent device, practice, plan, program, design or contrivance, which may include but is not limited to:
(16) Using any advertising or sales presentation in such a fashion as to be deceptive or misleading. An example of such practice would be a distribution of any nonfactual data, material or presentation based on conjecture, unfounded or unrealistic claims or assertions in any brochure, flyer, or display by words, pictures, graphs or otherwise designed to supplement, detract from, supersede or defeat the purpose or effect of any prospectus or disclosure;
(19) Failing to comply with any applicable provision of the Conduct Rules of the Financial Industry Regulatory Authority or any applicable fair practice or ethical standard promulgated by the Securities and Exchange Commission or by a self-regulatory organization approved by the Securities and Exchange Commission;
(20) Any act or practice enumerated in WAC 460-21B-010; or
(21) Using any term or abbreviation thereof in a manner that misleadingly states or implies that a person has special expertise, certification, or training in financial planning, including, but not limited to, the misleading use of a senior-specific certification or designation as set forth in WAC 460-25A-020.
[Statutory Authority: RCW 21.20.450. WSR 14-10-040, § 460-22B-090, filed 4/29/14, effective 5/30/14. Statutory Authority: RCW 21.20.450, 21.20.020 (1)(c), 21.20.110 (1)(g). WSR 08-14-006, § 460-22B-090, filed 6/19/08, effective 7/20/08. Statutory Authority: RCW 21.20.450 and 21.20.110 (1)(g). WSR 02-19-093, § 460-22B-090, filed 9/17/02, effective 10/18/02. Statutory Authority: RCW 21.20.450(1). WSR 99-12-043, § 460-22B-090, filed 5/26/99, effective 7/9/99. Statutory Authority: RCW 21.20.450. WSR 97-16-050, § 460-22B-090, filed 7/31/97, effective 8/31/97. Statutory Authority: RCW 21.20.070 and 21.20.450. WSR 95-16-026, § 460-22B-090, filed 7/21/95, effective 8/21/95.]