10 Va. Admin. Code § 5-160-50 – Responding to requests from Bureau of Financial Institutions; providing false, misleading, or deceptive information.

A. If the bureau requests information from an applicant to complete a deficient application filed under § 6.2-1603, 6.2-1607, or 6.2-1608 of the Code of Virginia and the information is not received within 60 days of the request, the application shall be deemed abandoned unless a request for an extension of time is received and approved by the bureau prior to the expiration of the 60-day period.
B. When the bureau requests a written response, books, records, documentation, or other information from a licensee in connection with the bureau's investigation, enforcement, or examination of compliance with applicable laws, the licensee shall deliver a written response as well as any requested books, records, documentation, or information within the time period specified in the bureau's request. If no time period is specified, a written response as well as any requested books, records, documentation, or information shall be delivered by the licensee to the bureau not later than 30 days from the date of such request. In determining the specified time period for responding to the bureau and when considering a request for an extension of time to respond, the bureau shall take into consideration the volume and complexity of the requested written response, books, records, documentation or information and such other factors as the bureau determines to be relevant under the circumstances.
Requests made by the bureau pursuant to this subsection are deemed to be in furtherance of the bureau's investigation and examination authority provided for in § 6.2-1611 of the Code of Virginia.
C. A licensee shall not provide any information to the bureau, either directly or through the Registry, that is false, misleading, or deceptive.

Statutory Authority

§§ 6.2-1613 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 18, Issue 19, eff. May 15, 2002; amended, Virginia Register Volume 27, Issue 13, eff. February 15, 2011; Volume 29, Issue 12, eff. January 28, 2013; Volume 33, Issue 18, eff. May 15, 2017.