Hawaii Administrative Rules › Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS › Chapter 39 - SECURITIES › Subchapter 3 - REGISTRATION OF SECURITIES › E - Small Company Offerings Registration › Section 16-39-353 - Disqualification from use of SCOR registration

Current through June, 2024
(a) SCOR
				  registration shall not be available for the security of any issuer if that
				  issuer or any of its officers, directors, ten per cent shareholders, promoters
				  or any selling agents of the security 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 SEC 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 broker-dealer, agent, or investment adviser, or
				  investment adviser representative 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.