127.1 Each applicant applying for an initial license or registration; or person going from an inactive status to active status as an agent, broker-dealer, investment adviser, or investment adviser representative, shall obtain a criminal background check and shall be subject to the Fingerprint-Based Background Check Authorization Act of 2012, effective June 20, 2012 (D.C. Law 19-143, D.C. Official Code § 31-631 et seq.).

127.2 Criminal background checks shall be conducted in accordance with the DISB Fingerprint-Based Background Check Authorization Act of 2012, effective June 20, 2012, Sections 101 through 104 (D.C. Law 19-143; D.C. Official Code § 31-631 et seq.)

127.3 An applicant who has been denied based on information obtained from a criminal background check shall have an opportunity for a hearing as outlined in 26B DCMR § 300 et seq., or pursuant to the Office of Administrative Hearings Rules of Practice and Procedure, 2 DCMR § 2800 et seq., as applicable.

SOURCE: Final Rulemaking published at 60 DCR 16653 (December 6, 2013).