PURPOSE: This rule prescribes the persons that are excluded from the definition of broker-dealer, agent, investment adviser, and investment adviser representative.

1. (1) Broker-Dealer.

   1. (A) Canadian—United States Cross-Border Trading Exclusion. A person who is a resident of Canada and who has no office or and Investment Adviser Representatives 15 CSR 30-51

other physical presence in this state is excluded from the definition of broker-dealer contained in section 409.401(c), RSMo, provided it complies with the following conditions:

1. 1. Registered with or is a member of a

self-regulatory organization in Canada, stock exchange in Canada or the Bureau des services financiers;

1. 2. Maintains in good standing its provin-

cial or territorial registration and its registration with or membership in a self-regulatory organization in Canada, stock exchange in Canada or the Bureau des services financiers; and

1. 3. Effects or attempts to effect transac-

tions in securities:

1. A. With or for a person from Canada

who is temporarily a resident in or visiting this state, with whom the Canadian brokerdealer had a bona fide broker-dealer–client relationship before the person entered this state;

1. B. With or for a person present in this

state, whose transactions are in Canadian self-directed tax advantaged retirement account of which the person is the holder or contributor; or

1. C. As otherwise permitted by the

securities laws of this state.

1. (2) Agent.

   1. (A) Sellers of Agricultural Cooperatives. An individual who represents an issuer for the purpose of effecting transactions in a security exempted by clause (5) of section 409.402(a), RSMo, and seeks an exception from the definition of agent shall submit the following:

      1. 1. Form SE-2, Application for Excep-

tion from Definition as Agent for Sellers of Agricultural Cooperatives Securities;

1. 2. Filing of copies of all sales and solic-

itation material to be used by the applicant; and

1. 3. Filing of copies of any agreements

between the issuer and the applicant regarding commissions or other remuneration to be received for effecting transactions in the previously mentioned securities.

AUTHORITY: sections 409.401(b) and (c)(5), RSMo Supp. 2001 and 409.413(a), RSMo 2000.* Original rule filed Dec. 28, 2001, effective July 30, 2002. *Original authority: 409.401, RSMo 1967, amended 1977, 1978, 1995, 1997, 2001 and 409.413, RSMo 1967.