Cal. Code Regs. tit. 10 § 260.241.4

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Section 260.241.4 - Notice of Changes by Broker-Dealer and Investment Adviser

(a) Each licensed broker-dealer and each licensed investment adviser shall, upon any change in the information contained in its application for a certificate (other than financial information contained therein) promptly file an amendment to such application setting forth the changed information.

(b) A licensed broker-dealer that is a member of the Financial Industry Regulatory Authority, shall file changed information contained in its Form BD and any schedule thereto, through the Central Registration Depository ("CRD") in accordance with its procedures for transmission to the Commissioner. If the broker-dealer does not participate in CRD, the broker-dealer shall file changed information directly with the Commissioner.

(c) A licensed broker-dealer shall notify the Commissioner of the employment of any new agent in California and of the termination of employment of any agent in California in accordance with Section 260.210.

(d) A licensed investment adviser shall file changed information contained in its Form ADV with the Investment Adviser Registration Depository ("IARD") in accordance with its procedures for transmission to the Commissioner.

(e) A licensed investment adviser shall file an annual updating amendment, in accordance with the instruction in Form ADV, with IARD in accordance with its procedures for transmission to the Commissioner within ninety (90) days of the end of the investment adviser's fiscal year.

(f) A licensed investment adviser shall notify the Commissioner of the employment or engagement of any new investment adviser representative, as defined in Section 25009.5(a) of the Code and the termination thereof in accordance with Section 260.236.1.

Cal. Code Regs. Tit. 10, § 260.241.4

1. Repealer of subsection (c) filed 6-18-76 as an emergency; effective upon filing. Certificate of Compliance included (Register 76, No. 25).
2. Amendment filed 9-2-77; effective thirtieth day thereafter (Register 77, No. 36).
3. Amendment of subsection (b) filed 11-29-79 as an emergency; designated effective 1-1-80. Certificate of Compliance included (Register 79, No. 48).
4. Editorial correction of NOTE filed 4-6-83 (Register 83, No. 15).
5. Relettering of former subsection (b) to subsection (c) and new subsection (b) filed 1-3-89; operative 2-1-89 (Register 89, No. 2).
6. Change without regulatory effect amending subsection (b) filed 9-25-2002 pursuant to section 100, title 1, California Code of Regulations (Register 2002, No. 39).
7. Amendment of subsections (b)-(c), new subsections (d)-(f) and amendment of NOTE filed 3-4-2003; operative 4-3-2003 (Register 2003, No. 10).
8. Amendment of section and NOTE filed 3-6-2007; operative 4-5-2007 (Register 2007, No. 10).
9. Amendment of subsection (b) filed 11-10-2009; operative 12-10-2009 (Register 2009, No. 46).

Note: Authority cited: Sections 25231, 25241 and 25610, Corporations Code. Reference: Section 1798.18, Civil Code; and Sections 25210, 25230, 25231, 25241, 25612.3 and 25612.5, Corporations Code.

1. Repealer of subsection (c) filed 6-18-76 as an emergency; effective upon filing. Certificate of Compliance included (Register 76, No. 25).
2. Amendment filed 9-2-77; effective thirtieth day thereafter (Register 77, No. 36).
3. Amendment of subsection (b) filed 11-29-79 as an emergency; designated effective 1-1-80. Certificate of Compliance included (Register 79, No. 48).
4. Editorial correction of NOTE filed 4-6-83 (Register 83, No. 15).
5. Relettering of former subsection (b) to subsection (c) and new subsection (b) filed 1-3-89; operative 2-1-89 (Register 89, No. 2).
6. Change without regulatory effect amending subsection (b) filed 9-25-2002 pursuant to section 100, title 1, California Code of Regulations (Register 2002, No. 39).
7. Amendment of subsections (b)-(c), new subsections (d)-(f) and amendment of Note filed 3-4-2003; operative 4-3-2003 (Register 2003, No. 10).
8. Amendment of section and Note filed 3-6-2007; operative 4-5-2007 (Register 2007, No. 10).
9. Amendment of subsection (b) filed 11-10-2009; operative 12-10-2009 (Register 2009, No. 46).