Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 38 - SECURITIES - REPEALED › Subchapter 14 - SMALL COMPANY OFFERINGS REGISTRATION › Section 16-38-62 - Disqualification from use of SCOR registration

Current through June, 2024
(a) SCOR
				registration shall not be available for securities of any issuer if that issuer
				or any of its officers, directors, ten per cent shareholders, promoters or any
				selling agents of the securities to be offered, or any officer, director, or
				partner of such selling agent:
(1) Has filed
				an application for registration which is the subject of a currently effective
				registration stop order entered pursuant to any federal, state, or provincial
				securities law within five years prior to the filing of the SCOR registration
				application;
(2) Has been convicted
				within five years prior to the filing of the SCOR registration application of
				any felony or misdemeanor in connection with the offer, purchase, or sale of
				any security or any felony involving fraud or deceit; including but not limited
				to forgery, embezzlement, obtaining money under false pretenses, larceny, or
				conspiracy to defraud;
(3) Is
				currently subject to any federal, state, or provincial administrative
				enforcement order or judgment entered by any state or provincial securities
				commissioner or the Securities an d Exchange Commission within five years prior
				to the filing of the SCOR registration application;
(4) Is subject to any federal, state, or
				provincial administrative enforcement order or judgment in which fraud or
				deceit, including but not limited to making untrue statements of material facts
				and omitting to state material facts, was found and the order or judgment was
				entered within five years prior to the filing of the SCOR registration
				application;
(5) Is subject to any
				federal, state, or provincial administrative enforcement order or judgment
				which prohibits, denies, or revokes the use of any exemption from registration
				in connection with the offer, purchase, or sale of securities;
(6) Is currently subject to any order,
				judgment, or decree of any court of competent jurisdiction temporarily,
				preliminarily, or permanently restrains or enjoins such party from engaging in
				or continuing any conduct or practice in connection with the purchase or sale
				of any security, or involving the making of any false filing with any state or
				with the SEC, entered within five years prior to the filing of the SCOR
				registration application; or
(7)
				Has violated the law of a foreign jurisdiction governing or regulating any
				aspect of the business of securities or banking or, within the past five years,
				has been the subject of an action of a securities regulator of a foreign
				jurisdiction denying, revoking, or suspending the right to engage in the
				business of securities as a dealer, agent, or investment adviser or is the
				subject of an action of any securities exchange or self-regulatory organization
				operating under the authority of the securities regulator of a foreign
				jurisdiction suspending or expelling such person from membership in the
				exchange or self-regulatory organization.