Cal. Code Regs. tit. 10 § 260.216.3

Current through Register 2024 Notice Reg. No. 36, September 6, 2024

Section 260.216.3 - Disclosure of Control of Issuer

The phrase "manipulative, deceptive, or other fraudulent scheme, device, or contrivance," as used in subdivision (a) of Section 25216 of the Code, is hereby defined to include any act of any broker-dealer or agent controlled by, controlling,or under common control with, the issuer of any security, designed to effect with or for the account of a customer any transaction in, or to induce the purchase or sale by such customer of, such security unless such broker-dealer or agent, before entering into any contract with or for such customer for the purchase or sale of such security, discloses to such customer the existence of such control, and unless such disclosure, if not made in writing, is supplemented by the giving or sending of written disclosure at or before the completion of the transaction.

Cal. Code Regs. Tit. 10, § 260.216.3

1. Editorial correction adding NOTE filed 4-6-83 (Register 83, No. 15).

Note: Authority cited: Sections 25216(a) and 25610, Corporations Code. Reference: Section 25216, Corporations Code.

1. Editorial correction adding NOTE filed 4-6-83 (Register 83, No. 15).