Kansas Administrative Regulations › Agency 81 - OFFICE OF THE SECURITIES COMMISSIONER › Article 1 - DEFINITIONS OF TERMS › Section 81-1-1 - Definition of terms

Current through Register Vol. 43, No. 28, July 11, 2024
As used in the act, these regulations, and the forms,
						instructions, and orders of the administrator, each of the following terms
						shall have the meaning specified in this regulation, unless the context
						indicates otherwise:
(a) "The act"
					means the Kansas uniform securities act, K.S.A. 17-12a101  et seq., and
					amendments thereto.
(b)
					"Administrator" means the securities commissioner of Kansas, appointed pursuant
					to K.S.A. 75-6301  and amendments thereto, or the commissioner's
					designee.
(c) "Affiliate" means a
					person who directly or indirectly controls, is controlled by, or is under
					common control with another person, or who aids and abets or is aided and
					abetted by another person.
(d)
					"AICPA" means the American institute of certified public accountants.
(e) "Branch office" means any location where
					one or more agents or investment adviser representatives regularly conduct
					business on behalf of a broker-dealer or investment adviser, or that is held
					out as such a location, with the exception of the following locations:
(1) Any location that is established solely
					for customer service or back office-type functions, where no sales activities
					are conducted, and that is not held out to the public as a branch
					office;
(2) any location that is
					the agent's or investment adviser representative's primary residence if all of
					the following conditions are met:
(A) Only
					agents or investment adviser representatives who reside at the location and are
					members of the same immediate family conduct business at the
					location;
(B) the location is not
					held out to the public as an office, and the agent or investment adviser
					representative does not meet with customers at the location;
(C) neither customer funds nor securities are
					handled at the location;
(D) the
					agent or investment adviser representative is assigned to a designated branch
					office, and the designated branch office is reflected on all business cards,
					stationery, advertisements, and other communications to the public by the agent
					or investment adviser representative;
(E) the agent's or investment adviser
					representative's correspondence and communications with the public are subject
					to the supervision of the broker-dealer or investment adviser with which the
					individual is associated;
(F)
					electronic communications are made through the electronic system of the
					broker-dealer or investment adviser;
(G) all orders for securities are entered
					through the designated branch office or an electronic system established by a
					broker-dealer or investment adviser;
(H) written supervisory procedures pertaining
					to supervision of activities conducted at residence locations are maintained by
					the broker-dealer or investment adviser; and
(I) a list of all residence locations is
					maintained by the broker-dealer or investment adviser;
(3) any location, other than a primary
					residence, that is used for securities or investment advisory business for less
					than 30 business days in any one calendar year, if the broker-dealer or
					investment adviser complies with the provisions of paragraphs (e)(2)(B) through
					(H). For purposes of this paragraph, a business day shall not include any
					partial business day if the agent or investment adviser representative spends
					at least four hours of the business day at the agent's or investment adviser
					representative's designated branch office during the hours that the office is
					normally open for business;
(4) any
					office of convenience, where associated persons occasionally and exclusively by
					appointment meet with customers, that is not held out to the public as an
					office;
(5) any location that is
					used primarily to engage in non-securities activities and from which the agents
					or investment adviser representatives effect no more than 25 securities
					transactions in any one calendar year, if any advertisement or sales literature
					identifying the location also sets forth the address and telephone number of
					the location from which the agents or investment adviser representatives
					conducting business at the non-branch locations are directly
					supervised;
(6) the floor of a
					registered national securities exchange where a broker-dealer conducts a direct
					access business with public customers; and
(7) a temporary location established in
					response to the implementation of a business continuity plan.