reglab/statecodes huggingface dataset:
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-7a - Broker-dealer applicant experience requirements

Current through July 10, 2024
(a) Each applicant for broker-dealer registration shall (1) have been engaged in the securities business as a broker-dealer or agent spending a major portion of his working time in the securities business for at least three years within the seven calendar years preceding the date of the application or (2) be otherwise qualified by knowledge and experience as determined by the commissioner. An attorney who has had at least three years of substantial experience in the practice of securities law, an accountant who has had at least three years of substantial experience in the sale of securities and any other person who can demonstrate equivalent knowledge and experience in the sale of securities may be deemed to have sufficient experience for purposes of this subsection.
(b) If the applicant for broker-dealer registration is a partnership, at least two of its active partners, or if there is only one active partner then that one, shall meet the experience requirements of section (a) of this section.
(c) If the applicant for broker-dealer registration is a corporation, at least two of its active officers, or if there is only one active officer then that one, shall meet the experience requirements of subsection (a) of this section.
(d) Persons acting as managers shall meet the experience requirements of subsection (a) of this section. For purposes of this subsection, "manager'' means (1) any person who supervises sales personnel either directly or indirectly or (2) any person responsible for the day-to-day operation and supervision of a broker-dealer office located in this state.
(e) A qualifying examination may be substituted for the experience requirements of this section if the commissioner consents.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-7b - Investment adviser experience requirements

Current through July 10, 2024
(a) Each applicant for investment adviser registration shall (1) have been engaged in the securities business as a broker-dealer, agent, investment adviser or investment adviser agent spending a major portion of his or her working time in the securities business for at least three years within the seven calendar years preceding the date of the application or (2) be otherwise qualified by knowledge and experience as determined by the commissioner. An attorney who has had at least three years of substantial experience in the practice of securities law, an accountant who has had at least three years of substantial experience in the sale of securities or the rendering of advice about the purchase or sale of securities and any other person who can demonstrate equivalent knowledge and experience in the sale of securities or the rendering of investment advice may be deemed to have sufficient experience for purposes of this subsection.
(b) If the applicant for investment adviser registration is a partnership, at least two of its active partners, or if there is only one active partner then that one, shall meet the experience requirements of subsection (a) of this section.
(c) If the applicant for investment adviser registration is a corporation, at least two of its active officers, or if there is only one active officer then that one, shall meet the experience requirements of subsection (a) of this section.
(d) Persons acting as managers shall meet the experience requirements of subsection (a) of this section. For purposes of this subsection, "manager'' means (1) any person who supervises investment adviser agents either directly or indirectly or (2) any person responsible for the day-to-day operation and supervision of an investment adviser office in this state.
(e) A qualifying examination may be substituted for the experience requirements of this section if the commissioner consents.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-7c - Registration of real property securities dealers

Current through July 10, 2024
Those persons who (a) offer for sale units of ownership in real property securities as defined in section 20-329o(2) of the general statutes, and real estate syndicate securities as defined in section 47-91(c) of the general statutes and (b) are required to be licensed with the Real Estate Commission as real property securities dealers pursuant to section 20-329p of the general statutes, shall be exempt from the Act pursuant to section 20-329bb(b) of the general statutes.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-7d - Successor registration

Current through July 10, 2024
(a) A broker-dealer or investment adviser seeking to register as a successor shall file (1) a copy of Form BD (excluding Schedule F) or a copy of Form ADV, as the case may be and (2) a list of all registered agents or investment adviser agents of the predecessor associated or to be associated with the successor. A $50 transfer fee shall be paid for each registered agent or investment adviser agent.
(b) If a registered broker-dealer succeeds to and continues the business of another registered broker-dealer, or a registered investment adviser succeeds to and continues the business of another registered investment adviser, the registration of the predecessor shall be deemed to remain effective as the registration of the successor for a period of 45 days after such succession, provided that the successor files an application for registration on Form BD or Form ADV, as the case may be, within 30 days after such succession.
(c) A Form BD or Form ADV, as the case may be, filed by a broker-dealer or investment adviser that is not registered when such form is filed and which succeeds to and continues the business of a predecessor registered broker-dealer or investment adviser shall be deemed an application for registration filed by the predecessor and adopted by the successor, even though designated as an amendment, it is filed within 30 days of the succession and the succession is based on a change in the predecessor's date or state of incorporation, form of organization or change in composition of a partnership and the amendment is filed to reflect these changes.
(d) Each person registering as a successor under this section shall pay the commissioner a non-refundable application fee of $50. There shall be no registration fee for filing Form BD or Form ADV pursuant to this section.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-7e - Requirements for use of trade names by registrants

Current through July 10, 2024
(a) As used in this section, (1) "advertisement" means material published, or designed for use in, a newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape display, sign or billboard, motion picture, telephone directory, telecommunication service, or other public medium and (2) "sales literature" means any written or electronic communication distributed or made generally available to customers or the public, which communication does not meet the foregoing definition of "advertisement." "Sales literature" includes, but is not limited to, circulars, research reports, market letters, performance reports or summaries, form letters, seminar texts, and reprints or excerpts of any other advertisement, sales literature or published article.
(b) Every person described in subsection (c) of this section shall file with the commissioner a supplement (Form DBA-1) to the initial or renewal application for registration as a broker-dealer, agent, investment adviser or investment adviser agent. Such supplement shall be filed with the initial application for registration or prior to any activity which renders a registrant subject to this section.
(c) The filing requirements in this section apply to any registered broker-dealer, agent, investment adviser or investment adviser agent engaging in any of the following activities and any applicant for registration as a broker-dealer, agent, investment adviser or investment adviser agent planning to engage in either of the following activities upon registration:
(1) Promoting a securities or investment advisory business by means of any advertisement or sales literature wherein the registrant is identified by any name different from that which appears as the registrant's name on the application filed with the commissioner regardless of whether such filed name also appears on the advertisement or sales literature; or
(2) Providing any written material to a customer or client, including but not limited to a business card, letterhead, contract, account statement, confirmation or receipt, wherein the registrant is identified by a name different from that which appears as the registrant's name on the application filed with the commissioner regardless of whether such filed name also appears on the written material.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-9a - Statement of financial condition

Current through July 10, 2024
(a) Each applicant for initial registration as a broker-dealer or investment adviser shall file as part of its application an original statement of financial condition in such detail as to disclose the nature and amount of assets, liabilities and capital as of a date within 60 days of the application filing date. The applicant shall attach to the statement an oath or affirmation made before a person authorized to administer oaths or affirmations indicating that, to the best of the knowledge and belief of the person making the oath or affirmation, the statement of financial condition is true and correct. If the broker-dealer or investment adviser applicant is a sole proprietorship, the oath or affirmation shall be made by the proprietor; if a partnership, by a general partner; and if a corporation, by a duly authorized officer. If the applicant is a broker-dealer and has been in business for one year or more, the statement of financial condition shall be examined in accordance with generally accepted auditing standards and reported upon with an opinion expressed by an independent certified public accountant or independent public accountant. If the applicant is an investment adviser who has been in business for one year or more and (1) will have custody or possession of clients' funds or securities or (2) will require the prepayment of advisory fees six months or more in advance and in excess of $500 per client, the statement of financial condition shall be examined in accordance with generally accepted auditing standards and reported upon with an opinion expressed by an independent certified public accountant or independent public accountant.
(b) The commissioner may make temporary specific exceptions or deferments regarding the requirements in subsection (a) of this section upon a showing of unusual circumstances. Such temporary specific exceptions or deferments may only be made upon a written request to the commissioner and only written approval from the commissioner shall be regarded as binding.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-9b - Net capital requirements for broker-dealers

Current through July 10, 2024
(a) Each broker-dealer applicant and registrant shall have and maintain the minimum net capital required by Securities and Exchange Commission Rule 15c3-1, 17 C.F.R. § 240.15c3-1, as amended, and shall comply with Securities and Exchange Commission Rule 15c3-3, 17 C.F.R § 240.15c3-3, governing customer protection, reserves and custody of securities.
(b) Each broker-dealer applicant and registrant whose net capital at any time is less than the minimum required by Securities and Exchange Commission Rule 15c3-1, or whose total outstanding principal amounts of satisfactory subordination agreements exceed the maximum allowable for a period in excess of 90 days in accordance with Securities and Exchange Commission Rule 15c3-1 (d), shall (1) give telegraphic notice to the commissioner as required by Securities and Exchange Commission Rule 17a-11(a) (1), 17 C.F.R. §
										240.17a-11(a) (1), and (2) within 24 hours thereafter, file with the commissioner an up-to-date statement of financial condition and such supplemental schedules and reports which are reasonably necessary to accurately reflect the total financial position of the broker-dealer applicant or registrant. Such statement shall include, without limitation, a statement of revenues and expenses and a statement of sources and uses of funds. Such statement shall be signed and sworn to by the person making it and shall state that the facts it contains are true to that person's own knowledge.
(c) If the computations specified in subsection (a) of this section show, at any point during the month, that the broker-dealer applicant or registrant's net capital is less than the minimum required, the broker-dealer applicant or registrant shall file with the commissioner within 10 business days after the end of each month thereafter all of the information required by subsection (b) (2) of this section until three successive months, or such longer period as the commissioner deems appropriate and necessary, have elapsed.
(d) Upon written application, the commissioner may exempt from subsection (a) of this section, either unconditionally or on specified terms and conditions, any broker-dealer applicant or registrant not registered with the United States Securities and Exchange Commission or a member of a self-regulatory organization, which satisfies the commissioner that, because of the special nature of its business, its financial position and the safeguards it has established for the protection of customer funds and securities, it is not necessary in the public interest or for the protection of investors to subject the applicant or registrant to the provisions of subsection (a) of this section.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-9c - Minimum capital requirements for investment advisers

Current through July 10, 2024
(a) Each investment adviser applicant and registrant shall have and maintain tangible assets in excess of liabilities less satisfactory subordination agreements to the extent of at least $1,000.
(b) Each investment adviser applicant and registrant whose tangible assets in excess of liabilities at any time are less than the minimum required by subsection (a) of this section shall (1) on the same day that its tangible assets over liabilities become less than the required minimum, file with the commissioner written notice of the deficiency and (2) within 24 hours thereafter, file with the commissioner an up-to-date statement of financial condition and such supplemental schedules and reports which are reasonably necessary to accurately reflect the total financial position of the investment adviser applicant or registrant. Such statement shall include, but not be limited to, a statement of revenues and expenses and a statement of sources and uses of funds. Such up-to-date statement shall be signed and sworn to by the person making it and shall state that the facts it contains are true to that person's own knowledge.
(c) If the computations specified in subsection (a) of this section show, at any point during the month, that the investment adviser applicant's or registrant's tangible liabilities are less than the minimum required, the investment adviser applicant or registrant shall file with the commissioner within 10 business days after the end of each month thereafter all of the information required by subsection (b) (2) of this section until three successive months, or such longer period as the commissioner deems appropriate and necessary, have elapsed.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-14c - Filing of financial reports by broker-dealers

Current through July 10, 2024
(a) Each registered broker-dealer shall annually file with the commissioner, or, subject to the conditions set forth in subsection (b) of this section, with the National Association of Securities Dealers, Inc., on a calendar or fiscal year basis, a financial report (1) audited by an independent public accountant or independent certified public accountant and (2) containing the information required by Securities and Exchange Commission Rule 17a-5 (d), 17 C.F.R. §
										240.17a-5(d). The report shall be filed not more than 60 days following the end of the calendar or fiscal year. If the date of the filing exceeds such 60-day requirement, an unaudited statement similar in all respects shall also be filed and shall not be dated more than 60 days prior to the filing.
(b) The annual filing described in subsection (a) of this section may be made with the National Association of Securities Dealers, Inc. subject to the following conditions: The broker-dealer (1) shall be, and continue to be, a member of a self-regulatory organization registered under federal laws administered by the United States Securities and Exchange Commission; (2) shall file annual audited financial reports with the self-regulatory organization of which it is a member; (3) shall be current in filing with such self-regulatory organization all required financial reports, including, without limitation, the annual audited financial report; (4) shall undertake in writing to provide immediate telegraphic notice to the commissioner within 24 hours if at any time its net capital becomes less than the minimum prescribed in section 36b-31-9 b (a) of the regulations; and (5) shall undertake in writing to provide upon request by the commissioner, and within 24 hours, any financial reports, statements, supplements and amendments required by subsection (a) of this section and by subsection (a) of section 36b-31-14 a of the regulations.
(c) If an accountant is changed as a result of a disagreement between the client and the accountant concerning the carrying of assets or the disclosure of potential or actual liabilities, the commissioner shall be so notified in writing within 10 days following the date of the change.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-14d - Filing of financial reports by investment advisers

Current through July 10, 2024
(a) Each registered investment adviser shall, within 90 days following the end of its fiscal or calendar year, file with the commissioner a report of its financial condition as of the end of its fiscal year. Such report shall be examined in accordance with generally accepted auditing standards and reported upon with an opinion expressed by an independent certified public accountant or independent public accountant if the investment adviser (1) has custody or possession of clients' funds or securities or (2) requires the prepayment of advisory fees six months or more in advance and in excess of $500 per client. If the date of the filing exceeds the 90-day requirement, an unaudited statement similar in all respects shall also be filed and shall not be dated more than 90 days prior to the filing.
(b) If an accountant is changed as a result of a disagreement between the client and the accountant concerning the carrying of assets or the disclosure of potential or actual liabilities, the commissioner shall be so notified in writing within 10 days following the date of the change.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-14e - Duty to amend information previously filed

Current through July 10, 2024
(a) If the information contained in any application for registration as a broker-dealer, agent, investment adviser or investment adviser agent, or in any amendment thereto, is or becomes inaccurate or incomplete in any material respect for any reason, the applicant or registrant shall promptly file a correcting amendment with the commissioner.
(b) For purposes of this section, an application or any amendment thereto filed by a broker-dealer, agent, investment adviser or investment adviser agent shall be deemed materially incomplete if it fails to disclose (1) any civil, criminal, administrative or self-regulatory organization complaint or notice of charges which may result in an affirmative answer on Form BD, Form ADV or Form U-4 or (2) information on the disposition, including any decision, order or sanction, resulting from the complaint or notice of charges described in subdivision (1) of this subsection.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-14f - Examinations by commissioner

Current through July 10, 2024
(a) For purposes of this section, (1) "commissioner" includes any representative of the commissioner conducting an examination and (2) "records" includes, but is not limited to, diaries, logs, notes, memoranda, reports, advisories, updates, ledgers, journals, visual and audio recordings, manual and computer records and related software, and any summary, outline and index thereof.
(b) A registered broker-dealer or investment adviser shall (1) make its records available to the commissioner in readable form; (2) provide personnel and equipment necessary to the conduct of the examination, including but not limited to assistance in the analysis of computer generated records; (3) provide copies or computer printouts of records when so requested; and (4) furnish access to all areas of its securities or investment advisory operations conducted on or off the premises and otherwise facilitate the examination.
(c) Required records may be examined at the location where they are maintained or with respect to records not maintained at a Connecticut location, at any other reasonable location as determined by the commissioner.
(d) Upon the request of the commissioner, a registered broker-dealer or investment adviser shall produce and furnish to the commissioner a list of all records relating to the business conducted from that location.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-15b - Dishonest or unethical business practices by agents

Current through July 10, 2024
(a) In implementing section 36b-15(a) (2) (H) of the general statutes, the following shall be deemed "dishonest or unethical practices in the securities . . . business" by agents without limiting those terms to the following practices:
(1) Borrowing money or securities from an account carried for a customer without the customer's prior consent and without notice to the broker-dealer whom the agent represents;
(2) Engaging in conduct prohibited by section 36b-31-6 e of the regulations;
(3) Operating an account under a fictitious name, unless disclosed to the broker-dealer whom the agent represents;
(4) Sharing directly or indirectly in profits or losses in the account of any customer without the prior written authorization of the customer and of the broker-dealer carrying the account; and such sharing in the profits and losses of an account shall be only in direct proportion to the financial contributions made to such account by the agent;
(5) Dividing or otherwise splitting commissions, profits or other compensation receivable in connection with the purchase or sale of securities in this state with any person not registered in this state and employed by the same broker-dealer;
(6) Where the agent is concurrently registered as an agent of more than one broker-dealer, as an agent of a broker-dealer and an agent of an issuer, or as an agent of a broker-dealer and an investment adviser agent, failing to disclose to the customer in writing the multiple capacity in which the agent is acting;
(7) Effecting transactions in securities products concerning which the agent has not taken and successfully passed an examination given by a self- regulatory organization registered under the Securities Exchange Act of 1934 which would qualify the agent to sell, offer to sell or buy such products; and
(8) Engaging in any of the practices specified in subdivisions (1), (2), (4) to (6), inclusive, (9), (12), (13), (15) to (21), inclusive, and (23) of section 36b-31-15 a (a) of the regulations.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-15d - Dishonest or unethical business practices by investment adviser agents

Current through July 10, 2024
(a) In implementing section 36b-15(a) (2) (H) of the general statutes, the following shall be deemed "dishonest or unethical practices in the securities . . . business" by investment adviser agents without limiting those terms to the following practices:
(1) Where an investment adviser agent is dually registered as an investment adviser agent and an agent of an issuer or as an investment adviser agent and an agent of a broker-dealer, failing to disclose to the customer or client in writing the dual capacity in which the investment adviser agent is acting;
(2) Failing to disclose to a client in writing before any advice is rendered any conflict of interest relating to the investment adviser agent which could reasonably be expected to impair the rendering of unbiased advice; and
(3) Engaging in any of the practices specified in subdivisions (1) to (9), inclusive, (11) to (13), inclusive, and (19) of section 36b-31-15 c of the regulations.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-15f - Summary orders

Current through July 10, 2024
If the commissioner issues a summary order pursuant to section 36b-15c of the general statutes, an opportunity for hearing shall be granted only if a written request for a hearing is filed within 14 days following the respondent's receipt of the order. The ring shall be held in accordance with chapter 54 of the general statutes.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-17a - Registration of securities by coordination

Current through July 10, 2024
(a) A person seeking to register by coordination a security for which a registration statement has been filed under the Securities Act of 1933 in connection with the same offering shall file Forms U-1 and U-2 with the commissioner. A broker-dealer registered under the Act may omit Form U-2.
(b) Each application for registration by coordination shall also include a copy of the issuer's articles of incorporation and by-laws or their substantial equivalents currently in effect, a copy of any agreements with or among underwriters, a copy of any indenture or other instrument governing the issuance of the security to be registered, a specimen or copy of the security, an opinion of counsel regarding the issuance of the securities and a list of broker-dealers or agents of the issuer registered under the Act who may offer the securities in this state.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-17b - Shelf registration

Current through July 10, 2024
A registration of securities to be offered in series or a registration for delayed or continuous offering and sale of securities for which a single registration statement has been filed under the Securities Act of 1933 may be filed by coordination. The initial filing shall be made in accordance with section 36b-17 of the general statutes. Prior to the offering of each subsequent series or each particular offering of securities for which a registration for delayed or continuous offering and sale has been filed, the registrant shall submit for each such series or offering a Form U-1, the filing fee required by section 36b-19(b) of the general statutes and any additional information given or any documents filed with the United States Securities and Exchange Commission. The registration of each subsequent series or particular offering so filed shall be effective automatically once the commissioner receives (a) written notice of Securities and Exchange Commission effectiveness of each amendment to the issuer's federal registration statement relating to that series or offering and the final pricing information, if any, or (b) pricing telegrams with respect to series or offerings for which no such amendment has been filed.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-17c - Registration by coordination of unit investment trust securities

Current through July 10, 2024
(a) A unit investment trust that satisfies the eligibility requirements of Rule 487, 17 C.F.R. §
										230.487 under the Securities Act of 1933, and which seeks to designate the date and time when the federal registration of securities of a series of such unit investment trust, other than the first series, shall become effective under Rule 487, may register such securities under section 36b-17 of the general statutes in accordance with this section.
(b) Pursuant to subsections (d) and (e) of section 36b-19 of the general statutes, the following may be omitted from the registration statement filed under section 36b-17(b) of the general statutes if the registrant represents to the commissioner in writing that the omitted information does not differ in any material respect from that contained in a registration for a prior series that became effective under section 36b-17 of the general statutes, otherwise than pursuant to this section, within the previous two years and for which federal effectiveness was determined by the United States Securities and Exchange Commission:
(1) The copy of the latest form of prospectus filed under the Securities Act of 1933 that otherwise would have been required under section 36b-17(b) of the general statutes and section 36b-31-19 b (b) of the regulations;
(2) the organizational instruments required by section 36b-17(b) (2) of the general statutes and section 36b-31-19 b (b) of the regulations;
(3) the copy of any agreements with or among underwriters required by section 36b-17(b) (2) of the general statutes and section 36b-31-19 b (b) of the regulations;
(4) the copy of any indenture or other instrument governing the issuance of the securitito be registered as required by section 36b-17(b) (2) of the general statutes;
(5) the specimen or copy of the security required by section 36b-17(b) (2) of the general statutes;
(6) if applicable, the advisory, custodian and business management agreements required by section 36b-31-19 b (b) of the regulations;
(7) the form of application to purchase securities required by section 36b-31-19 b (b) of the regulations;
(8) the sales literature required by section 36b-22 of the general statutes and section 36b-31-22 of the regulations;
(9) an undertaking to forward all amendments to the federal prospectus as required by section 36b-17(b) (4) of the general statutes; and
(10) a copy of any pre-effective amendment to the federal registration statement required by section 36b-31-19 b of the regulations.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-18 - Registration of securities by qualification

Current through July 10, 2024
(a) A person seeking to register a security by qualification shall file Forms U-1 and U-2 and the documents and information that sections 36b-18(b) and 36b-19(c) of the general statutes require. A broker-dealer registered under the Act may omit Form U-2.
(b) A person seeking to register a security for which a Form 1-A offering statement has been filed pursuant to Securities and Exchange Commission Regulation A ( 17 C.F.R. §§
										230.251 through 230.263 ) under the Securities Act of 1933 shall also file the Form 1-A offering statement required by Rules 251 and 252 ( 17 C.F.R. §§
										230.251 and 230.252 ) and a cross-reference sheet indicating the location of the information required by section 36b-18(b) of the general statutes.
(c) As a condition to registration by qualification, a prospectus containing the information required by subdivisions (1) through (11), inclusive, and (16) of section 36b-18(b) of the general statutes shall be sent or given to each person to whom an offer is made before or concurrently with (1) the first written offer made to such person, other than by means of a public advertisement, by or for the account of the issuer or any other person on whose behalf the offering is being made, or by any underwriter or broker-dealer who is offering part of an unsold allotment or subscription taken by such underwriter or broker-dealer as a participant in the distribution; (2) the confirmation of any sale made by or for the account of any such person; (3) payment pursuant to any such sale; or (4) delivery of the security pursuant to any such sale, whichever first occurs.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-18a - Small corporate offering registration (SCOR)

Current through July 10, 2024
(a) For purposes of this section, "Small Corporate Offering Registration Form," "SCOR" and "Form U-7" means the Small Corporate Offering Registration Form adopted by the North American Securities Administrators Association, Inc. on April 29, 1989 to facilitate the registration of offerings made pursuant to Securities and Exchange Commission Rule 504, 17 C.F.R. 230.504, promote uniformity in registration and maintain investor protection standards.
(b) For purposes of this section, "issuer" shall not include the following:
(1) Any individual or form of business organization which is not a corporation;
(2) any corporation not organized under the laws of any state, territory, or possession of the United States, the District of Columbia or Puerto Rico;
(3) any person engaged in mining, petroleum exploration or production or other extractive industry business;
(4) any person subject to the reporting requirements of Section 13 or Section 15 of the Securities Exchange Act of 1934, as amended; or
(5) any investment company described in the Investment Company Act of 1940, as amended.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-19a - Provisions applicable to registration generally

Current through July 10, 2024
(a) A person filing a registration statement under sections 36b-17 or 36b-18 of the general statutes shall pay a non-refundable filing fee for each class and/or series of securities a registration statement covers. The registration statement for a security, other than that for an investment company, may cover one or more classes and/or series of the issuer's securities. In computing the filing fee, a registration statement covering one or more types of securities of the same issuer which are offered for sale as a unit is deemed to cover a single class.
(b) A person filing a registration statement under sections 36b-17 or 36b-18 of the general statutes shall timely file with the commissioner all amendments to the prospectus, other than amendments which merely delay the effective date of the registration statement, clearly marked to indicate the specific amendments. Where the offering has been filed with the United States Securities and Exchange Commission, such amendments shall be filed with the commissioner within two business days after they have been filed with the United States Securities and Exchange Commission.
(c) A person seeking to register securities under the Act shall promptly notify the commissioner of the following information or events and, if the registration statement is filed under section 36b-17 of the general statutes, such notice shall be given prior to the effective date of the federal registration statement:
(1) A change in any of the information or documents filed with the commissioner;
(2) any adverse order, judgment, decree or permanent or temporary injunction entered by a state or federal agency or court concerning (A) the offering or (B) other securities of the issuer or of the person seeking the registration;
(3) a request by the issuer or the person seeking the registration to withdraw an application pending before a state or federal agency to register the same security the applicant seeks to register under the Act;
(4) final notice from any state or federal administrative agency that the security or any information or document filed with the agency relating to the security fails to meet the agency's requirements; and
(5) such additional information and documents concerning the security or the issuer as the commissioner may request.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-19b - Registration of investment company shares

Current through July 10, 2024
(a) A registration statement under sections 36b-17 or 36b-18 of the general statutes shall cover only one class, series or portfolio of investment company shares.
(b) A person filing a registration statement for investment company shares under section 36b-17 or 36b-18 of the general statutes shall file the following documents, in addition to those required by sections 36b-17 and 36b-18 of the general statutes:
(1) The most recent post-effective amendment to the federal registration statement including the latest form of prospectus filed under the Securities Act of 1933;
(2) one copy of the latest form prospectus filed under the Securities Act of 1933;
(3) the issuer's articles of incorporation, declaration of trust or comparable instrument;
(4) the issuer's by-laws;
(5) agreement among underwriters;
(6) advisory agreement;
(7) custodian agreement;
(8) form of application to purchase securities;
(9) business management agreement; and
(10) any other documents the commissioner requests.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-19c - Post-sale registration

Current through July 10, 2024
(a) A person seeking to register a security which has been sold or offered for sale without compliance with section 36b-16 of the general statutes shall file the following documents and provide the following information to the commissioner:
(1) A registration statement containing the documents, information and filing fee required by sections 36b-18 and 36b-19(b) of the general statutes;
(2) an additional filing fee of $50; and
(3) a schedule listing (A) the names, addresses and telephone numbers of those persons to whom the unregistered securities were sold without compliance with section 36b-16 of the general statutes, (B) the number of securities sold to each such person, (C) the consideration, whether in cash or item of value, paid by each such person, and (D) a single document, signed and sworn to by an executive officer of the applicant for registration, which contains an explanatory statement and a statement of non-prejudice.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-19d - Registration of offerings eligible to utilize the securities and exchange commission multijurisdictional disclosure system

Current through July 10, 2024
(a) A registration statement filed with the United States Securities and Exchange Commission, designated as Form F-7, Form F-8, Form F-9 or Form F-10 and filed with the commissioner pursuant to sections 36b-17 or 36b-18 of the general statutes, shall be subject to the following provisions:
(1) The 15-day filing requirement contained in section 36b-17(c) (2) of the general statutes shall be reduced to seven days and
(2) financial statements and financial information prepared in accordance with Canadian generally accepted accounting principles, consistently applied, may be contained in such registration if (A) where the registration statement is designated as Form F-7, the securities that are the subject of the registration statement are offered for cash upon the exercise of rights granted to existing security holders; (B) where the registration statement is designated as Form F-8, the securities that are the subject of the registration statement are to be issued in an exchange offer, merger or other business combination; (C) where the registration statement is designated as Form F-9, the securities that are the subject of the registration statement (i) either consist of non-convertible preferred stock or non-convertible debt securities and (ii) are to be rated in one of the four highest rating categories by one or more statistical rating organizations designated by the commissioner; or (D) where the registration statement is designated as Form F-10, the securities that are the subject of the registration statement are offered and sold pursuant to a prospectus in which the United States Securities and Exchange Commission has not required a reconciliation to United States generally accepting accounting principles with respect to the financial information presented in the prospectus. For purposes of this subsection, preferred stock and debt securities that are not convertible for at least one year from the date the registration statement becomes effective shall be deemed to meet the requirements of subdivision (2) (C) of this subsection.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-21a-9 - Exemption for securities issued by nonprofit organizations

Current through July 10, 2024
For purposes of section 36b-21(a) (9) of the general statutes, the issuance of a determination letter by the Internal Revenue Service confirming the status of a person as an exempt organization under Section 501 (c) (3) of the Internal Revenue Code of 1954, as amended, shall be prima facie evidence that such person is "organized and operated not for private profit but exclusively for religious, educational, benevolent, charitable, fraternal, social, athletic, or reformatory purposes."
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-21b-1 - Exemption for isolated non-issuer transactions

Current through July 10, 2024
In implementing section 36b-21(b) (1) of the general statutes, "isolated" shall mean not in the course of repeated and successive transactions of like character. Two consecutive sales of securities made within such a period of time and under such circumstances so as to indicate that they involve the same plan of financing are not isolated.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-21b-2 - Manual exemption

Current through July 10, 2024
In implementing section 36b-21(b) (2) (A) of the general statutes, "recognized securities manual" shall include only Standard & Poors Standard Corporation Descriptions, Standard & Poors Corporation Records, Moody's Industrial Manual, Moody's Bank and Finance Manual, Moody's Transportation Manual, Moody's OTC Industrial Manual, Moody's Public Utility Manual and Moody's International Manual. Supplements to such manuals are recognized if the information required by section 36b-21(b) (2) (A) of the general statutes is disclosed in the supplement and the supplement is subsequently incorporated and published in the respective annual manual. If the manual contains the information required by section 36b-21(b) (2) (A) of the general statutes only in abbreviated form, the securities transaction is not exempt under section 36b-21(b) (2) (A) of the general statutes.
Connecticut Administrative Code › Title 36b - Connecticut Securities Law and Business Opportunity Investment Act › 31 - Connecticut Uniform Securities Act › Transferred from section 36-500, July 3, 1995 › Section 36b-31-21b-3 - Exemption for non-issuer transaction through a registered broker-dealer

Current through July 10, 2024
For purposes of section 36b-21(b) (3) of the general statutes, unless the confirmation is conspicuously marked "unsolicited order," the customer shall acknowledge in writing that the sale was unsolicited. A registered broker-dealer shall not be deemed to have solicited an order or offer to buy a security purchased by or through that broker-dealer merely because bid and offer quotations for the security were published in an interdealer quotation service or in the financial columns of newspapers.