Missouri Code of State Regulations › Title 15 - ELECTED OFFICIALS › Division 30 - Secretary of State › Chapter 59 - Registration and Operations of Commodity Broker-Dealers and Sales Representatives › Section 15 CSR 30-59.170 - Effectiveness and Post-Effective Requirements

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment replaces the name of a
				  regulatory entity with its current one.
(1) If no suspension or denial orders are in
				effect or proceedings for these orders are pending, registration shall become
				effective no later than noon of the thirtieth day after the filing of an
				application is complete, but an earlier effective date may be specified by the
				commissioner (section
				409.856,
				RSMo). Filing shall be considered complete when the application and all
				attachments and exhibits, as required by the commissioner, have been filed in
				the division and are satisfactory to the commissioner and the examination of
				the applicant has been accepted by the commissioner. Any application, the
				filing of which is not considered complete within a period of one (1) year
				following the original filing, shall be presumed subject to the entry of an
				order of cancellation pursuant to section
				409.863(1),
				RSMo.
(2) During the pendency of
				any application, or effectiveness of any registration, every broker-dealer or
				sales representative immediately and in no event later than thirty (30) days
				following the specified event or occurrence, shall report to the commissioner,
				in writing, any material change in any information, exhibits, or schedules
				submitted or circumstances disclosed in its last prior application and a
				correcting amendment shall be filed in the division at the time of occurrence
				or discovery of these changes, which include, but are not limited to, the
				following:
(A) Change in firm name, ownership,
				management or control or change in any partners, officers or persons in similar
				positions, or business address, or the creation or termination of a branch
				office in Missouri;
(B) Change in
				type of entity, general plan or character of business, method of operation or
				type of commodities in which dealing or trading is being effected;
(C) Insolvency, dissolution or liquidation or
				a material adverse change or impairment of working capital or noncompliance
				with the minimum capital or bond requirements specified previously;
(D) Termination of business or discontinuance
				of activities as a broker-dealer or sales representative;
(E) The filing of a criminal charge or civil
				or administrative action, in which a fraudulent, dishonest or unethical act is
				alleged or a violation of a securities or commodities law is involved;
				or
(F) Entry of an order or
				proceeding by any court or administrative agency denying, suspending, or
				revoking a registration or expelling the firm or individual from membership in
				any stock exchange, the Financial Industry Regulatory Authority (FINRA), or
				National Futures Association or threatening to do so, or enjoining it from
				engaging in or continuing any conduct or practice in the securities or
				commodities business.