California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 8 - Licensing of Broker-Dealers and Agents › Section 260.211.5 - Annual Renewal of Exemption for Finders: Form

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Filing: A finder must annually renew the
				  exemption by filing the Statement of Information form in subsection (g) of
				  Section 260.211.4 of these rules with the
				  Commissioner of Business Oversight in accordance with the form instructions on
				  or before the filing date specified in Section
				  25206.1, subdivision (d)(1), of
				  the Code. The Commissioner may request additional information, documentation or
				  detail pertaining to the form to be filed with the Department.
(b) Filing Fee: The fee for filing the
				  renewal Statement of Information is $275.00 as prescribed in Section
				  25206.1, subdivision (d)(2), of
				  the Code. The finder must remit the fee payable to the Department of Business
				  Oversight with the Statement of Information. The fee is not
				  refundable.
(c) Completion of
				  Filing: A Statement of Information is not considered filed until the required
				  fee and a completed form are received by the Commissioner.
(d) Amendment to the Statement of
				  Information: A finder must notify the Commissioner of any change to the
				  information in the renewal Statement of Information filed with the Commissioner
				  by filing an amended Statement of Information in accordance with the form
				  instructions within 10 business days of the change.
(e) Registration as a Broker-Dealer or Agent
				  Required: A finder who commits any of the following acts does not meet the
				  requirements for the exemption as a finder and, if acting as a broker-dealer as
				  defined in Section
				  25004 or an agent as defined in
				  Section 25003 of the Code, must register
				  as a broker-dealer pursuant to Section
				  260.211 or an agent pursuant to
				  Section 260.210 of these rules, unless the
				  individual is otherwise exempt from Section
				  25210 of the Code:
(1) Failure to renew the exemption or pay the
				  renewal filing fee to the Commissioner before the filing due date specified in
				  Section 25206.1, subdivision (d), of the
				  Code,
(2) Failure to comply with
				  the conditions for a finder in Section
				  25206.1, subdivision (a), of the
				  Code,
(3) Performance of any of the
				  acts or satisfaction of any of the circumstances in Section
				  25212 of the Code or Rule 506(d)
				  of Regulation D under the Securities Act of 1933 (17 C.F.R.
				  230.506(d)) pursuant to
				  Section 25206.1, subdivision
				  (d)(1)(A)(ii), of the Code,
(4)
				  Failure to obtain a signed written agreement or the written consent of each
				  person introduced or referred by the finder, or to provide the disclosures and
				  information in accordance with Section
				  25206.1, subdivision (e), of the
				  Code,
(5) Failure to disclose
				  whether transaction-based compensation was received as specified in Section
				  25206.1, subdivision (d)(1)(B), of
				  the Code, and
(6) Failure to
				  maintain the records required under Section
				  25206.1, subdivision
				  (f).