1. (1) A broker-dealer or state investment adviser applicant or licensee must file an amendment to its application and a broker-dealer, state or federal covered investment adviser, must file an amendment to the application of their respective salespersons or investment adviser representatives if there is a material change to any information on the original application or previous amendments including:

   1. (a) Bankruptcy;
   2. (b) Civil or criminal actions described on the application;
   3. (c) Disciplinary disclosure answers on the application;
   4. (d) Change in or additional affiliated business entity name;
   5. (e) Change in ownership other than as provided in OAR 441-175-0070(7);
   6. (f) Change in form of organization;
   7. (g) Change of address; or
   8. (h) Change in scope of business.
2. (2) Amendments must be filed within 30 days of the occurrence of the material change. If a completed amendment cannot be filed within 30 days, the applicant or licensee shall file with the director within the 30 day limit a written notice containing available information, the reasons a complete amendment cannot be timely filed and a specific date on which the completed amendment will be filed.

3. (3) Amendments to the application shall be made on:

   1. (a) A Form BD for broker-dealers;
   2. (b) A Form ADV for state investment advisers; and
   3. (c) A Form U-4 for salespersons or investment adviser representatives.

4. (4) Amendments to the application shall be filed with:

   1. (a) The CRD for broker-dealers who are or will be members of the FINRA and their salespersons; except for changes in designated supervisor, which shall be filed with the director;
   2. (b) The IARD for any investment advisers or investment adviser representatives who have previously filed applications through IARD; or
   3. (c) The director for all other persons.
5. (5) Filing amendments to a salesperson or investment adviser representative application shall be the responsibility of both the salesperson or investment adviser representative and the employing broker-dealer, or state or federal covered investment adviser.

6. (6) There is no fee required in connection with an amendment filed pursuant to this rule.

   [ED. NOTE: Forms referenced are available from the agency.]

Statutory/Other Authority

ORS 59.175, 59.185 & 59.285

Statutes/Other Implemented

ORS 59.175 & 59.185

History

FCS 1-2012, f. & cert. ef. 7-9-12
FCS 9-2001, f. & cert. ef. 9-28-01
FCS 7-2000, f. & cert. ef. 6-2-00
FCS 2-1994, f. & cert. ef. 1-7-94
FCS 1-1992, f. 1-31-92, cert. ef. 2-1-92