18 N.C. Admin. Code 6A.1417

Current through Register Vol. 39, No. 9, November 1, 2024

Section 06A .1417 - APPLICATION FOR LIMITED REGISTRATION OF CANADIAN SECURITIES DEALERS AND SALESMEN

(a) An applicant for limited registration as a dealer pursuant to G.S. 78A-36.1 (the "Dealer") shall file the following with the Administrator:

(1) a representation that the Dealer does not have an office or physical presence in this state;

(2) a representation that the Dealer is a resident of Canada;

(3) a representation that the Dealer will engage only in the activities described in G.S. 78A-36.1(j) in this state;

(4) a completed application for registration as a securities dealer in the form required by the jurisdiction in Canada in which the Dealer has its head office;

(5) an originally executed copy of a Form U-2 or similar consent to service of process whereby the Dealer names the North Carolina Secretary of State as an agent duly authorized to accept service of process on behalf of the Dealer;

(6) either:

(A) a certification by the securities regulatory agency of each jurisdiction in Canada from which the Dealer will be effecting transactions into this state stating that the Dealer is both registered and in good standing as a securities dealer in that jurisdiction, or

(B) a certification by the Investment Dealers Association of Canada confirming that the applicant maintains a membership in good standing with the Investment Dealers Association of Canada;

(7) evidence that the Dealer is a member of a Canadian self-regulatory organization ("SRO"), the Bureau des services financiers, or a Canadian stock exchange; and

(8) a filing fee as required by G.S. 78A-36.1(i) and G.S. 78A-37(b).

(b) An applicant for limited registration as a salesman (the "Salesman") intending to effect securities transactions in this state on behalf of a Canadian dealer registered under this section shall file the following with the Administrator:

(1) a completed application for registration as a securities salesman in the form required by the jurisdiction in which the dealer has its head office;

(2) an originally executed copy of a Form U-2 or similar consent to service of process whereby the Salesman names the North Carolina Secretary of State as an agent duly authorized to accept service of process on behalf of the Salesman;

(3) a certification by the securities regulatory agency of the jurisdiction in Canada from which the Salesman will be effecting transactions into this state stating that the Salesman is both registered and in good standing as a securities salesman in that jurisdiction; and

(4) a filing fee as required by G.S. 78A-36.1(i) and G.S. 78A-37(b).

(c) If any information contained in any document filed with the Administrator by any dealer or salesman who has registered pursuant to G.S. 78A-36.1 is or becomes inaccurate or incomplete in any material respect, the dealer or salesman shall file a correcting amendment as soon as practicable, but in no event later than 30 days following the date on which such information becomes inaccurate or incomplete.

18 N.C. Admin. Code 06A .1417

Authority G.S. 78A-36.1; 78A-37(b); 78A-49;
Temporary Adoption Eff. November 1, 2002; January 15, 2002;
Eff. April 1, 2003;
Amended Eff. August 1, 2004;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 6, 2016.

Authority G.S. 78A-36.1; 78A-37(b); 78A-49;
Temporary Adoption Eff. November 1, 2002; January 15, 2002;
Eff. April 1, 2003;
Amended Eff. August 1, 2004.