An applicant or registrant named as a defendant or respondent in one or more of the following actions shall notify the Commission within thirty (30) days in writing of any such action:

1. (a) Criminal charges punishable by imprisonment for more than six months, charges involving securities or any aspect of the securities business, or any felony;
2. (b) Civil charges involving a security or any aspect of the securities business or any activity alleging a breach of a fiduciary trust, or fraud;
3. (c) Administrative charges involving a security or any aspect of the securities business, or any activity alleging a breach of a fiduciary trust, or fraud;

4. (d) Any proceeding in which an adverse decision could result in:

   1. 1. a denial, suspension or revocation, or the equivalent of those terms, of a license, permit, registration or charter; or
   2. 2. an expulsion or bar from membership in any professional association or organization.

Statutory Authority: Code of Ala. 1975, §8-6-23.

History: Filed September 30, 1982. Readopted: Filed November 9, 1983. Amended: Filed September 28, 1990. Ed. Note: Formerly Rule No. 830-X-3-.09.