18 NCAC 06A .1408          TERMINATION OF SALESMAN'S REGISTRATION

(a)  When a salesman withdraws, cancels or otherwise terminates registration, the dealer for which the salesman is registered shall file such information, as follows:

(1)           A Uniform Termination Notice For Securities Industry Registration (Form U‑5) to be filed with the NASAA/NASD Central Registration Depository if the dealer is a NASD member firm; or

(2)           If the dealer is a non‑NASD member firm then the Uniform Termination Notice For Securities Industry Registration (Form U‑5) shall be filed directly with the Securities Division.

(b)  The Uniform Termination Notice For Securities Industry Registration (Form U‑5) shall be filed as soon as practicable after termination of the salesman, but in no event later than ten business days after the salesman terminates.

 

History Note:        Authority G.S. 78A‑36(b); 78A‑40(a); 78A‑49(a);

Eff. April 1, 1981;

Amended Eff. November 1, 1982;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 6, 2016.