1. (a) General rule. The Department may consider as abandoned an application for registration as a broker-dealer, agent, investment adviser or investment adviser representative which has been on file with the Department for a minimum of 6 consecutive months if the applicant failed to do any of the following:

   1. (1) Respond within 60 days after written notice sent by first class mail to the applicant’s last known address in the Department’s files warning the applicant that the application will be considered abandoned.
   2. (2) Respond to any request for additional information required under the act.
   3. (3) Complete the showing required for action on the application.
2. (b) Voluntary withdrawal. An applicant may, with the consent of the Department, withdraw an application at any time.
3. (c) No refund of fee. On abandonment or voluntary withdrawal, there will not be a refund for any filing fee paid before the date of the abandonment or withdrawal.

Authority

The provisions of this § 303.016 issued under section 202.C of the Department of Banking and Securities Code (71 P.S. § 733-202.C); section 609(a) of the Pennsylvania Securities Act of 1972 (70 P.S. § 1-609(a)); and section 9(b) of the Takeover Disclosure Law (70 P.S. § 79(b)).

Source

The provisions of this § 303.016 adopted January 12, 2018, effective January 13, 2018, 48 Pa.B. 389.