reglab/statecodes huggingface dataset:
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 429 - RULES GOVERNING COMPENSATION, NUMBERING, INTERCONNECTION, AND OTHER LOCAL INTER-CARRIER MATTERS › Section 20VAC5-429-20 - Interconnection

Current through Register Vol. 40, No. 24, July 15, 2024
A. Interconnection
				arrangements between local exchange carriers shall make available network
				features, functions, interface points, and other service elements on an
				unbundled basis. The commission shall, on petition by any party to the proposed
				interconnection or on its own motion, determine the reasonableness of any
				interconnection request.
B.
				Interconnection arrangements should apply equally and on a nondiscriminatory
				basis to all local exchange carriers.
C. Interconnection arrangements shall be made
				available pursuant to a bona fide written request. No refusal or unreasonable
				delay by any provider to another carrier will be tolerated.
D. Local exchange carriers shall provide
				nondiscriminatory use of pole attachments, conduit space, and
				rights-of-way.
E. Negotiation of
				interconnection agreements should be completed within 90 days of a bona fide
				request. Interconnection agreements shall be filed with the commission within
				10 days of their execution. Upon complaint of any affected party or on its own
				motion, the commission may initiate a proceeding to determine if any such
				agreement is reasonable and nondiscriminatory.
F. No sooner than 45 days from the initial
				interconnection request, any party to the request may petition the commission
				for a hearing in lieu of negotiations or as a result of unsuccessful
				negotiations. Upon such petition, the commission shall establish a proceeding
				to determine tariffed prices and service arrangements for
				interconnection.
G. Unbundled
				functional elements of a local exchange carrier's network that are made
				available through interconnection agreements shall also be made available on an
				individual tariffed basis within 60 days of filing unless otherwise ordered by
				the commission.
Statutory Authority
§§ 12.1-13 and 56-265.4:4 of the Code of Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 429 - RULES GOVERNING COMPENSATION, NUMBERING, INTERCONNECTION, AND OTHER LOCAL INTER-CARRIER MATTERS › Section 20VAC5-429-30 - Terminating traffic compensation

Current through Register Vol. 40, No. 24, July 15, 2024
A. Any compensation arrangement for the
				mutual exchange of local traffic should reflect the reciprocal relationship
				between local exchange carriers and the development of local exchange
				competition.
B. The commission may
				establish at any time, upon application or its own motion, appropriate
				compensation levels for mutual exchange of local traffic.
C. Local exchange carriers may deliver local
				traffic for termination on another carrier's local network only at the
				compensation level established in conformance with this section.
D. Any compensation arrangements for the
				mutual exchange of local traffic shall provide for equitable treatment or rates
				between the local exchange carriers.
Statutory Authority
§§ 12.1-13 and 56-265.4:4 of the Code of Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 429 - RULES GOVERNING COMPENSATION, NUMBERING, INTERCONNECTION, AND OTHER LOCAL INTER-CARRIER MATTERS › Section 20VAC5-429-40 - Number portability and number assignment

Current through Register Vol. 40, No. 24, July 15, 2024
A. Consumers shall have the ability to retain
				the same telephone number if they remain in the same geographic area where the
				NXX is normally provided, regardless of their chosen local exchange
				carrier.
B. True number portability
				shall be made available when technically and economically feasible.
C. Interim number portability arrangements
				shall be utilized until true number portability is available.
D. To the extent feasible, the ILEC shall
				provide new entrants with reservations for a reasonably sufficient block of
				numbers for their use.
E. LECs
				shall not charge for porting a customer's telephone number when the customer
				changes local exchange carriers.
Statutory Authority
§§ 12.1-13 and 56-265.4:4 of the Code of Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 429 - RULES GOVERNING COMPENSATION, NUMBERING, INTERCONNECTION, AND OTHER LOCAL INTER-CARRIER MATTERS › Section 20VAC5-429-50 - Universal service

Current through Register Vol. 40, No. 24, July 15, 2024
The goals of universal service and affordability of basic
				  local exchange telephone service must be maintained in a competitive local
				  exchange environment for the citizens of Virginia. The following requirements
				  shall apply:
1. The commission may, if
				necessary, establish a Universal Service Fund and applicable payment mechanism.
				Any such fund shall require the participation and support of all local exchange
				carriers.
2. The establishment of a
				Universal Service Fund shall first require the evaluation of the definition of
				basic local exchange telephone service and the calculation of the subsidy
				required to support the ubiquity of such service.
3. The ILECs shall be designated as the
				carriers of last resort in their current local serving areas until such time as
				the commission determines otherwise.
Statutory Authority
§§ 12.1-13 and 56-265.4:4 of the Code of Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 429 - RULES GOVERNING COMPENSATION, NUMBERING, INTERCONNECTION, AND OTHER LOCAL INTER-CARRIER MATTERS › Section 20VAC5-429-60 - Commission authority

Current through Register Vol. 40, No. 24, July 15, 2024
The commission may, in its discretion, waive or grant
				  exceptions to any of the provisions of this chapter.
Statutory Authority
§§ 12.1-13 and 56-265.4:4 of the Code of Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-10 - Definitions

Current through Register Vol. 40, No. 24, July 15, 2024
The following words and terms when used in this chapter shall
				  have the following meanings unless the context clearly indicates
				  otherwise:
"Applicant" means a provider of commercial mobile radio or
				  cellular telephone services seeking ETC designation for purposes of providing
				  Lifeline service pursuant to § 56-479.4 of the Code of Virginia.
"Broadband Internet access service" means a mass-market
				  retail service by radio that provides the capability to transmit data to and
				  receive data from all or substantially all Internet endpoints, including any
				  capabilities that are incidental to and enable the operation of the
				  communications service, but excluding dial-up service.
"Commission" means the State Corporation Commission.
"Duplicative support" means a Lifeline subscriber is
				  receiving two or more Lifeline services concurrently or two or more subscribers
				  in a household are receiving Lifeline services or Tribal Link Up support
				  concurrently.
"ETC" means eligible telecommunications carrier that is, a
				  common carrier so designated by the commission in accordance with
				  47 USC §
										214; associated regulations pursuant thereto
				  (see 47 CFR
				  54.5 and Part
				  54, Subpart C); and § 56-479.4 of
				  the Code of Virginia.
"FCC" means Federal Communications Commission.
"Lifeline" means a nontransferable retail service offering
				  provided directly to qualifying low-income consumers as defined in
				  47 CFR
				  54.401.
"Lifeline service" means telephony, broadband Internet access
				  service, and other supported services as provided by the FCC through its
				  universal service fund for qualifying low-income customer support pursuant to
				  47 USC §
										214 and associated regulations pursuant
				  thereto (see 47 CFR Part
				  54, Subpart E).
"National Lifeline Accountability Database" is an electronic
				  system, with associated functions, processes, policies, and procedures, to
				  facilitate the detection and elimination of duplicative support, as directed by
				  the FCC.
"Qualifying low-income consumer" means a consumer who meets
				  the qualifications for Lifeline, as specified in
				  47 CFR
				  54.409.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-20 - Filing of application

Current through Register Vol. 40, No. 24, July 15, 2024
A. Unless
				filed electronically, an original and 15 copies of an application seeking
				designation as an ETC pursuant to § 56-479.4 of the Code of Virginia shall be
				filed with the Clerk of the Commission.
1. An
				applicant shall deliver a copy of the application to the Division of Public
				Utility Regulation at the same time it is filed with the Clerk of the
				Commission.
2. A copy of all
				confidential information filed under seal with the Clerk of the Commission in
				connection with the application shall be provided by the applicant, at the time
				of filing, to the Division of Public Utility Regulation and the Office of
				General Counsel pursuant to
				5VAC5-20-170.
3. Any amendment or supplement to the
				application shall be filed in compliance with this section.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-30 - Notice of application

Current through Register Vol. 40, No. 24, July 15, 2024
Pursuant to a commission procedural order, the applicant
				  shall publish notice in newspapers having general circulation throughout its
				  proposed service territory.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-50 - Complaints

Current through Register Vol. 40, No. 24, July 15, 2024
Each ETC shall designate a point of contact for the handling
				  of customer complaints received by the commission. When contacted by a member
				  of the commission staff regarding a customer complaint received by the
				  commission, the ETC shall provide the commission staff a written response
				  within 24 hours confirming contact with the customer and describing the plan
				  for addressing the customer's complaint. The ETC shall provide commission staff
				  a written confirmation when the customer complaint is
				  resolved.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-60 - Reports to the State Corporation Commission

Current through Register Vol. 40, No. 24, July 15, 2024
A. Each ETC shall retain a listing of all of
				the service areas within Virginia in which the ETC has provided Lifeline
				service during the preceding 12 months and shall provide such to the commission
				staff upon request.
B. Each ETC
				shall promptly furnish such other information as the commission staff may
				reasonably request, unless otherwise ordered by the commission.
C. Within 30 days of an ETC's annual
				reporting of information to the FCC required pursuant to
				47 CFR
				54.422, each ETC shall submit to the
				commission staff a copy of said report.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-70 - Customer notice requirements

Current through Register Vol. 40, No. 24, July 15, 2024
An applicant shall include in its application, a copy of the
				  rates, terms, and conditions, or weblink thereto, that describes to current and
				  potential customers how notice of any change to rates, terms, and conditions of
				  any aspect of the supported Lifeline service will be provided, including the
				  amount of prior notice any customer will be entitled to before said change is
				  put into effect. The notice to customers shall afford an adequate amount of
				  time for the customer to select another service provider before said change is
				  put into effect but shall not be less than 14 days.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-80 - Suspension or revocation of ETC designation

Current through Register Vol. 40, No. 24, July 15, 2024
A. No carrier shall discriminate among
				subscribers requesting service. Any finding of discrimination may be grounds
				for suspension or revocation of the ETC designation of public convenience and
				necessity granted by the commission.
B. Excessive subscriber complaints against a
				wireless ETC that the commission has found to not have been addressed and
				resolved satisfactorily may be grounds for suspension or revocation of the
				carrier's ETC designation.
C. In
				all proceedings pursuant to this section, the commission shall give notice to
				the carrier of the allegations made against it and provide the ETC with an
				opportunity to be heard concerning those allegations prior to any suspension or
				revocation of the ETC designation.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-90 - Abandonment or discontinuation of service

Current through Register Vol. 40, No. 24, July 15, 2024
To the extent not otherwise governed by
				  47 USC
				  214(e)(4) and
				  47 CFR 54.505, no wireless ETC
				  shall otherwise abandon or discontinue Lifeline service, or any part of
				  services established, unless it provides at least seven days' advance notice to
				  the commission, which shall include a description of the notice to be provided
				  to customers that ensures adequate time to find another service provider, or at
				  least 30 days' notice.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 20 - PUBLIC UTILITIES AND TELECOMMUNICATIONS › Agency 5 - STATE CORPORATION COMMISSION › Chapter 430 - RULES GOVERNING DESIGNATION OF A COMMERCIAL MOBILE RADIO OR CELLULAR TELEPHONE SERVICE PROVIDER AS AN ELIGIBLE TELECOMMUNICATIONS CARRIER › Section 20VAC5-430-100 - Commission authority

Current through Register Vol. 40, No. 24, July 15, 2024
A. The
				commission may, at its discretion, waive or grant exceptions to any provisions
				of this chapter.
B. This chapter
				shall be enforced by the commission pursuant to the authority provided under §§
				12.1-13 and 12.1-33 of the Code of Virginia.
Statutory Authority: §§ 12.1-13 and 56-479.4 of the Code of
					 Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 10 - GENERAL ADMINISTRATION - SECURITIES ACT › Section 21VAC5-10-10 - Authority

Current through Register Vol. 40, No. 24, July 15, 2024
Pursuant to the authority granted by §§ 13.1-523
				  and 13.1-523.1 of the Virginia Securities Act (§ 13.1-501 et seq. of the
				  Code of Virginia) the following regulations and forms regarding the
				  administration and implementation of the Virginia Securities Act have been
				  adopted.
The intent of these regulations and forms is to supplant
				  written and unwritten administrative policies and to better reflect the
				  realities of current financial, commercial and regulatory principles and
				  practices.
Should any provision or application of these regulations be
				  held invalid, such invalidity shall not affect other provisions which can be
				  given effect without the invalid provision, and to this end the provisions or
				  applications of these regulations and forms are declared to be
				  severable.
Statutory Authority
§§ 12.1-13 and 13.1-523.1 of the Code of
					 Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 10 - GENERAL ADMINISTRATION - SECURITIES ACT › Section 21VAC5-10-20 - Classification of regulatory standards

Current through Register Vol. 40, No. 24, July 15, 2024
Regulations are regulatory standards adopted and promulgated
				  and shall be considered the highest level of policy applied by the
				  commission.
Forms are prescribed or adopted for the purpose of
				  implementing the Virginia Securities Act. When so prescribed or adopted, use of
				  the forms is mandatory.
Statements made orally or in writing by personnel of the
				  Division of Securities and Retail Franchising in response to inquiries or
				  otherwise, and not specifically identified and promulgated as regulations shall
				  not be considered regulatory standards of the commission and shall not be
				  considered binding upon the commission in connection with specific decisions
				  undertaken by the commission thereafter. The commission may refuse to answer
				  any question based upon a hypothetical situation.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 10 - GENERAL ADMINISTRATION - SECURITIES ACT › Section 21VAC5-10-30 - Application

Current through Register Vol. 40, No. 24, July 15, 2024
All regulations shall be applied collectively, to the extent
				  relevant, in connection with specific determinations made by the Commission in
				  the course of its regulatory function. The Commission will make its
				  determination on the basis of specific characteristics and circumstances of the
				  individual matter under consideration and in light of the basic statutory
				  purposes for regulation in the particular area. The captions of the various
				  regulations are for convenience only. Should there be a conflict between the
				  caption and the text of a regulation the text will be the controlling
				  factor.
Because regulations and forms cannot adequately anticipate
				  all potential application requirements, the failure to satisfy all regulatory
				  standards of the Commission will not necessarily foreclose the possibility of a
				  favorable disposition of a matter pending before the Commission, and, similarly
				  will not necessarily preclude an unfavorable disposition if the specific
				  characteristics and circumstances so warrant.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 10 - GENERAL ADMINISTRATION - SECURITIES ACT › Form - FORMS (21VAC5-10) Broker-Dealer and Agent Forms

Current through Register Vol. 40, No. 24, July 15, 2024
Broker-Dealer and Agent Forms
Form
				  BD, Uniform Application for Broker-Dealer Registration (rev.
				  1/2008)
Form
				  BDW, Uniform Notice of Termination or Withdrawal of Registration as a
				  Broker-Dealer (rev. 4/2007)
Form
				  S.A. 2, Application for Renewal of a Broker-Dealer's Registration (rev.
				  10/2017)
Form
				  S.A. 11, Broker-Dealer's Surety Bond (rev. 7/1999)
Form
				  S.D.4, Application for Renewal of Registration as an Agent of an Issuer
				  (2017)
Form
				  S.D.4.A, Agents to be Renewed - Exhibit I (rev. 1974)
Form
				  S.D.4.B, Agents to be Canceled (Records Clear) - Exhibit II (rev.
				  1974)
Form
				  S.D.4.C, Agents to be Canceled (Without clear Records) - Exhibit III (rev.
				  1974)
Rev.
				  Form U4, Uniform Application for Securities Industry Registration or Transfer
				  (rev. 5/2009)
Rev.
				  Form U5, Uniform Termination Notice for Securities Industry Registration (rev.
				  5/2009)
Investment Advisor and Investment Advisor Representative
				  Forms
Form ADV, Uniform Application for Registration of Investment
				  Registration and Report by Exempt Reporting Advisers
Part
				  IA, SEC 1707 (7/2017)
Part
				  IB, paper version (rev. 10/2012)
Part
				  2, Uniform Requirements for the Investment Adviser Brochure and Brochure
				  Supplements (undated)
Form
				  ADV-W - Notice of Withdrawal from Registration as an Investment Advisor (rev.
				  11/2010)
Form
				  S.A. 3, Affidavit for Waiver of Examination (undated, filed
				  10/2017)
Form
				  S.A. 10, Investment Advisor's Surety Bond Form (rev. 10/2017)
Form
				  S.A. 15, Investment Advisor Representative Multiple Employment Agreement (eff.
				  7/2007)
Form
				  S.A. 16, Agent Multiple Employment Agreement (eff. 7/2007)
Rev.
				  Form U4, Uniform Application for Securities Industry Registration or Transfer
				  (rev. 5/2009)
Rev.
				  Form U5, Uniform Termination Notice for Securities Industry Registration (rev.
				  5/2009)
Securities Registration and Notice Filing Forms
Form
				  U-1, Uniform Application to Register Securities (undated, filed
				  10/2017)
Form
				  U-2, Uniform Consent to Service of Process (rev. 6/2016)
Form
				  U-2A, Uniform Form of Corporate Resolution (rev. 6/2016)
Form
				  S.A. 4, Registration by Notification - Original Issue (rev.
				  11/1996)
Form
				  S.A. 5, Registration by Notification - Non-Issuer Distribution (rev.
				  11/1996)
Form
				  S.A. 6, Registration by Notification - Non-Issuer Distribution "Secondary
				  Trading" (1989)
Form
				  S.A. 8, Registration by Qualification (rev. 7/1991)
Form
				  S.A. 12, Escrow Agreement (1971)
Form
				  S.A. 13, Impounding Agreement (rev. 7/1999)
Form
				  VA-1, Parts 1 and 2, Notice of Limited Offering of Securities (rev.
				  11/1996)
Form
				  NF, Uniform Investment Company Notice Filing (4/1997)
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-10 - Application for registration as a broker-dealer

Current through Register Vol. 40, No. 24, July 15, 2024
A. Application for registration as a
				  broker-dealer by a FINRA member shall be filed in compliance with all
				  requirements of CRD and in full compliance with forms and regulations
				  prescribed by the commission and shall include all information required by such
				  forms.
B. An application shall be
				  deemed incomplete for registration as a broker-dealer by a FINRA member unless
				  the applicant submits the following executed forms, fee, and information:
1. Form BD.
2. Statutory fee payable to FINRA in the
				  amount of $200 pursuant to § 13.1-505F of the Act.
3. Evidence of approved FINRA
				  membership.
4. Evidence of at least
				  one qualified agent registration pending on CRD.
5. Any other information the commission may
				  require.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-20 - Expiration

Current through Register Vol. 40, No. 24, July 15, 2024
A broker-dealer's registration, and any renewal thereof,
					 shall expire annually at midnight on the 31st day of December, unless renewed
					 in accordance with
					 21VAC5-20-30.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-30 - Renewals

Current through Register Vol. 40, No. 24, July 15, 2024
A. To renew its
				  registration, a FINRA member broker-dealer will be billed by CRD the statutory
				  fee of $200 prior to the annual expiration date. A registration renewal shall
				  be granted as a matter of course upon payment of the proper fee unless the
				  registration was, or the renewal would be, subject to revocation under §
				  13.1-506 or nonrenewal under § 13.1-505E.
B. Any non-FINRA broker-dealer shall file
				  with the commission at its Division of Securities and Retail Franchising the
				  following items at least 30 days prior to the expiration of registration:
1. Application for Renewal of a
				  Broker-Dealer's Registration (Form S.A.2) accompanied by the statutory fee of
				  $200.
2. Financial Statements:
a. The most recent certified financial
				  statements prepared by an independent accountant in accordance with generally
				  accepted accounting principles, as promulgated by the American Institute of
				  Certified Public Accountants. "Certified Financial Statements," "Financial
				  Statements" and "Independent Accountant" shall have the same definition as
				  those terms are defined under subsection B of
				  21VAC5-20-80.
b. If the most recent certified financial
				  statements precede the date of renewal by more than 120 days, the registrant
				  must submit the certified financial statements required by subdivision 2 a of
				  this subsection within 60 days after the date of the financial
				  statements.
c. Whenever the
				  commission so requires, an interim financial report shall be filed as of the
				  date and within the period specified in the commission's request.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-40 - Updates and amendments

Current through Register Vol. 40, No. 24, July 15, 2024
A. A
				  FINRA member broker-dealer shall update its Form BD as required by Form BD
				  instructions and shall file all such amendments on and in compliance with all
				  requirements of CRD and in full compliance with the regulations prescribed by
				  the commission.
B. Any non-FINRA
				  member broker-dealer shall update its Form BD as required by Form BD
				  instructions and shall file all such amendments with the commission at its
				  Division of Securities and Retail Franchising.
C. All broker-dealers must have at least one
				  agent registered in Virginia as long as the firm maintains its
				  registration.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of
						Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-50 - Termination of registration

Current through Register Vol. 40, No. 24, July 15, 2024
A.
				  When a FINRA member broker-dealer desires to terminate its registration, it
				  shall file Form BDW in compliance with all requirements of CRD and in full
				  compliance with the regulations prescribed by the commission.
B. Any non-FINRA member broker-dealer shall
				  file a Form BDW with the commission at its Division of Securities and Retail
				  Franchising.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-60 - Broker-dealer merger or consolidation

Current through Register Vol. 40, No. 24, July 15, 2024
A. When there is a merger or consolidation of
				  two or more registrants, or the reorganization of a registrant, the surviving
				  or new entity shall amend or file, as the case may be, Form BD (the filing of
				  Form BD requires the payment of a $200 fee) and shall file a copy of the
				  following with the commission at its Division of Securities and Retail
				  Franchising upon its request:
1. The
				  certificate of merger or consolidation.
2. The plan of merger or
				  consolidation.
3. The amended or
				  new charter and by-laws.
4. Any
				  document of explanation.
5. The
				  current financial statements of the surviving or new entity and surety bond, if
				  necessary.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-65 - Broker-dealer records retention requirements

Current through Register Vol. 40, No. 24, July 15, 2024
The following requirements apply to every registered
					 broker-dealer as a condition of registration as a broker-dealer under the
					 Act:
1. All of the broker-dealer's
				  records, promptly upon the request of the commission, will be made available
				  for inspection by the commission and reproduction for the commission in an
				  office where the records are maintained;
2. All of the broker-dealer's records or
				  legible copies of the same, or printouts of the same, if automated, pertaining
				  to a securities transaction any part of which occurred or is to occur within
				  the Commonwealth of Virginia will be made available for inspection by the
				  commission in the office of the commission's Division of Securities and Retail
				  Franchising within five days after request of the commission for
				  same;
3. The term "records" as used
				  in this section means and includes all books, papers, documents, tapes, films,
				  photographs, electronic readable format or other materials, regardless of
				  physical form or characteristics that (i) are maintained for recordation or
				  storage of information prepared, used or to be used in connection with a
				  securities transaction or (ii) were used or are to be used in connection with
				  securities transactions;
4. Failure
				  to comply with this section may be considered grounds for the institution of a
				  proceeding to revoke a broker-dealer's registration or for such other penalty
				  prescribed by the Act; and
5. Any
				  broker-dealer subject to a commission investigation may be required to pay the
				  actual cost of the investigation.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of
						Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-70 - Examinations/qualifications

Current through Register Vol. 40, No. 24, July 15, 2024
A. Broker-dealers
				  registered with the commission that are registered pursuant to § 15 of the
				  Securities Exchange Act of 1934 ( 15 USC § 78o ).
1. All principals of an applicant for
				  registration as a broker-dealer must provide the commission with evidence of
				  passing:
(i) the Uniform Securities Agent
				  State Law Examination, Series 63;
(ii) the Uniform Combined State Law
				  Examination, Series 66; or
(iii) a
				  similar examination in general use by securities administrators which, after
				  reasonable notice and subject to review by the commission, the Director of the
				  Division of Securities and Retail Franchising designates within the two-year
				  period immediately preceding the date of the application.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part I - Broker-Dealers › Section 21VAC5-20-85 - Limited Canadian broker-dealer registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. A broker-dealer that is resident in Canada
				  and has no office or other physical presence in the Commonwealth of Virginia
				  may, provided the broker-dealer is registered under this section, effect
				  transactions in securities:
1. With or for a
				  person from Canada who is temporarily residing in or visiting the Commonwealth
				  with whom the Canadian broker-dealer had a bona fide business-client
				  relationship before the person entered this Commonwealth; or
2. With or for a person present in this
				  Commonwealth whose transactions are in a Canadian self-directed tax advantaged
				  retirement account of which the person is the holder or contributor.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-90 - Application for registration as a broker-dealer agent

Current through Register Vol. 40, No. 24, July 15, 2024
A. Application for registration as an agent
				  of a FINRA member shall be filed on and in compliance with all requirements of
				  CRD and in full compliance with the forms and regulations prescribed by the
				  commission. The application shall include all information required by such
				  forms.
An application shall be deemed incomplete for registration
					 as a broker-dealer agent unless the applicant submits the following executed
					 forms, fee, and information:
1. Form
				  U4.
2. The statutory fee made
				  payable to FINRA in the amount of $40.
3. Evidence in the form of a FINRA exam
				  report of passing within the two-year period immediately preceding the date of
				  the application:
(i) the Uniform Securities
				  Agent State Law Examination, Series 63;
(ii) the Uniform Combined State Law
				  Examination, Series 66; or
(iii) a
				  similar examination in general use by securities administrators which, after
				  reasonable notice and subject to review by the commission, the Director of the
				  Division of Securities and Retail Franchising designates.
4. Any other information the commission may
				  require.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-95 - Employment of an agent by more than one broker-dealer

Current through Register Vol. 40, No. 24, July 15, 2024
A. In accordance with § 13.1-504B of the
				  Act, an agent may be employed by more than one broker-dealer if all of the
				  following conditions are satisfied:
1. Each
				  employing broker-dealer is under common ownership and control as defined in
				  subsection B of this section or as provided in subdivision C 2 c under
				  21VAC5-20-330.
2. Each employing broker-dealer is registered
				  in accordance with
				  21VAC5-20-10.
3. Each employing broker-dealer consents in
				  writing to the employment of the agent by each of the other employing
				  broker-dealers.
4. Each employing
				  broker-dealer agrees to be responsible for the employment activity of the
				  agent.
5. The agent is registered
				  in accordance with
				  21VAC5-20-90 by and on behalf of
				  each employing broker-dealer.
6.
				  Each employing broker-dealer executes an Agent Multiple Employment Agreement
				  (Form S.A.16), and the executed agreement is filed with the commission at its
				  Division of Securities and Retail Franchising prior to the agent transacting
				  business in Virginia on behalf of such broker-dealer.
7. A new Agent Multiple Employment Agreement
				  is executed and filed with the commission at its Division of Securities and
				  Retail Franchising within 15 days after any information in a current agreement
				  on file with the commission becomes materially deficient, incomplete or
				  inaccurate.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-100 - Expiration

Current through Register Vol. 40, No. 24, July 15, 2024
The registration, and any renewals thereof, of a
					 broker-dealer agent shall expire annually at midnight on the 31st day of
					 December unless renewed in accordance with
					 21VAC5-20-110.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-110 - Renewals

Current through Register Vol. 40, No. 24, July 15, 2024
A. To renew the
				  registration or registrations of its broker-dealer agent or agents, a FINRA
				  member broker-dealer will be billed by CRD the statutory fee of $40 per
				  broker-dealer agent. A renewal of registration or registrations shall be
				  granted as a matter of course upon payment of the proper fee or fees unless the
				  registration was, or the renewal would be, subject to revocation under §
										13.1-506 of the Code of
				  Virginia.
B. A non-FINRA member
				  broker-dealer shall file with the commission at its Division of Securities and
				  Retail Franchising the following items at least 30 days prior to the expiration
				  of registration.
1. Agents to be Renewed (Form
				  S.D.4.A) accompanied by the statutory fee of $40 for each agent whose
				  registration is to be renewed. The check must be made payable to the Treasurer
				  of Virginia.
2. If applicable,
				  Agents to be Canceled with clear records (Form S.D.4.B).
3. If applicable, Agents to be Canceled
				  without clear records (Form S.D.4.C).
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-120 - Updates and amendments

Current through Register Vol. 40, No. 24, July 15, 2024
A broker-dealer agent shall amend or update Form U4 as
					 required by the "Amendment Filings" provisions set forth under "How to Use Form
					 U4." All filings shall be made on CRD for agents of FINRA member firms or with
					 the commission at its Division of Securities and Retail Franchising for all
					 other broker-dealer agents.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of
						Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-130 - Termination of registration

Current through Register Vol. 40, No. 24, July 15, 2024
A.
				  When a broker-dealer agent terminates his registration with a broker-dealer, or
				  a broker-dealer terminates an agent's registration, the broker-dealer shall
				  file notice of such termination on Form U5 within 30 calendar days of the date
				  of termination. All filings shall be made on CRD for agents of FINRA member
				  firms or with the commission at its Division of Securities and Retail
				  Franchising for all other broker-dealer agents.
B. If an agent learns that the broker-dealer
				  has not filed the appropriate notice, the agent may file notice with the
				  commission at its Division of Securities and Retail Franchising. The commission
				  may terminate the agent's registration if the commission determines that a
				  broker-dealer (i) is no longer in existence, (ii) has ceased conducting
				  securities business, or (iii) cannot reasonably be located.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of
						Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-140 - Changing connection from one broker-dealer to another

Current through Register Vol. 40, No. 24, July 15, 2024
A broker-dealer agent who changes connection from one
					 broker-dealer to another shall comply with
					 21VAC5-20-90.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-150 - Examination/qualification

Current through Register Vol. 40, No. 24, July 15, 2024
A. An individual
				  applying for registration as a broker-dealer agent shall be required to show
				  evidence of passing within the two-year period immediately preceding the date
				  of the application:
(i) the Uniform
				  Securities Agent State Law Examination, Series 63;
(ii) the Uniform Combined State Law
				  Examination, Series 66; or
(iii) a
				  similar examination in general use by securities administrators which, after
				  reasonable notice and subject to review by the commission, the Director of the
				  Division of Securities and Retail Franchising designates.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part II - Broker-Dealer Agents › Section 21VAC5-20-155 - Limited Canadian broker-dealer agent registration

Current through Register Vol. 40, No. 24, July 15, 2024
A. An agent of a Canadian broker-dealer who
				  has no office or other physical presence in the Commonwealth of Virginia may,
				  provided the broker-dealer agent is registered under this section, effect
				  transactions in securities as permitted for a broker-dealer registered under
				  21VAC5-20-85.
B. Application for registration as a
				  broker-dealer agent under this section shall be filed with the commission at
				  its Division of Securities and Retail Franchising or such other entity
				  designated by the commission on and in full compliance with forms prescribed by
				  the commission and shall include all information required by such
				  forms.
C. An application for
				  registration as a broker-dealer agent under this section shall be deemed
				  incomplete for purposes of applying for registration unless the following
				  executed forms, fee, and information are submitted to the commission:
1. An application in the form required by the
				  jurisdiction in which the broker-dealer maintains its principal place of
				  business.
2. Statutory fee payable
				  to the Treasurer of Virginia in the amount of $40 United States currency
				  pursuant to §
											13.1-505G of
				  the Act.
3. Evidence that the
				  applicant is registered as a broker-dealer agent in the jurisdiction from which
				  it is effecting the transactions.
4. Any other information the commission may
				  require.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part III - Agents of the Issuer › Section 21VAC5-20-160 - Application for registration as an agent of the issuer

Current through Register Vol. 40, No. 24, July 15, 2024
A. Application for registration as an agent
				  of the issuer shall be filed on and in compliance with all requirements and
				  forms prescribed by the commission.
B. An application shall be deemed incomplete
				  for registration as an agent of the issuer unless the following executed forms,
				  fee, and information are submitted:
1. Form
				  U4.
2. The statutory fee in the
				  amount of $40. The check must be made payable to the Treasurer of
				  Virginia.
3. Evidence in the form
				  of a FINRA exam report of passing within the two-year period immediately
				  preceding the date of the application:
(i)
				  the Uniform Securities Agent State Law Examination, Series 63;
(ii) the Uniform Combined State Law
				  Examination, Series 66; or
(iii) a
				  similar examination in general use by securities administrators which, after
				  reasonable notice and subject to review by the commission, the Director of the
				  Division of Securities and Retail Franchising designates.
4. Any individual who meets the
				  qualifications set forth in subdivision B 3 of this section and has been
				  registered in any state jurisdiction requiring registration within the two-year
				  period immediately preceding the date of the filing of an application shall not
				  be required to comply with the examination requirement set forth in subdivision
				  B 3 of this section, except that the Director of Securities and Retail
				  Franchising may require additional examinations for any individual found to
				  have violated any federal or state securities laws.
5. Any other information the commission may
				  require.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part III - Agents of the Issuer › Section 21VAC5-20-170 - Expiration

Current through Register Vol. 40, No. 24, July 15, 2024
The registration, and any renewals thereof, of an agent of
					 the issuer shall expire annually at midnight on the 31st day of December unless
					 renewed in accordance with
					 21VAC5-20-180.
Statutory Authority
§ 13.1-523 of the Code of Virginia.
Virginia Administrative Code › Title 21 - SECURITIES AND RETAIL FRANCHISING › Agency 5 - STATE CORPORATION COMMISSION › Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER › Part III - Agents of the Issuer › Section 21VAC5-20-180 - Renewals

Current through Register Vol. 40, No. 24, July 15, 2024
An issuer, on behalf of its agent or agents, shall file
					 with the commission at its Division of Securities and Retail Franchising at
					 least 30 days prior to the expiration of registration a registration renewal
					 form (Form S.D.4) accompanied by the statutory fee of $40 for each agent whose
					 registration is to be renewed. The check must be made payable to the Treasurer
					 of Virginia.
Statutory Authority: §§
												12.1-13 and
						13.1-523 of the Code of
						Virginia.