Washington Administrative Code › Title 460 - Financial Institutions, Department of (Securities Division) › Chapter 460-17A - Small company offering registration › Section 460-17A-040 - Disqualification from use of SCOR registration

Current through Register Vol. 24-14, July 15, 2024
(1) SCOR registration shall not be available
			 for securities of any issuer if that issuer or any of its officers, directors,
			 ten percent shareholders, promoters or any selling agents of the securities to
			 be offered, or any officer, director, or partner of such selling agent:
(a) 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;
(b) 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;
(c) Is currently subject
			 to any federal, state, or provincial administrative enforcement order or
			 judgment entered by any state or provincial securities administrator or the
			 Securities and Exchange Commission within five years prior to the filing of the
			 SCOR registration application;
(d)
			 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;
(e) 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;
(f) 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 Securities and Exchange Commission, entered within five years prior to
			 the filing of the SCOR registration application; or
(g) 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 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 such exchange or self-regulatory
			 organization.