18 NCAC 06A .1703          APPLICATION/INVESTMENT ADVISER REPRESENTATIVE REGISTRATION

(a)  The application for initial registration as an investment adviser representative pursuant to Section 78C‑17(a) of the Act shall be made by completing Form U‑4 (Uniform Application for Securities Industry Registration or Transfer) in accordance with the form instructions and by filing the Form U-4 with IARD.  The initial application shall include the following:

(1)           Proof of compliance by the investment adviser representative with the examination requirements of Rule .1709; and

(2)           The fee required by Section 78C‑17(b) of the Act.

(b)  The application for annual renewal of registration as an investment adviser representative shall be filed with IARD.  The application for annual renewal or registration shall include the fee required by G.S. 78C-17(b).

(c)  Updates and amendments to the Form U-4 shall be subject to the following requirements:

(1)           The investment adviser representative is under a continuing obligation to update information required by Form U-4 as changes occur;

(2)           An investment adviser representative and the investment adviser must file promptly with IARD any amendments to the representative's Form U-4; and

(3)           An amendment will be considered to be filed promptly if the amendment is filed within 30 days of the event that requires the filing of the amendment.

(d)  An application for initial or renewal registration is not considered filed for purposes of G.S. 78C-17 until the required fee and all required submissions have been received by the Administrator.

 

History Note:        Authority G.S. 78C‑16(b); 78C‑17(a); 78C‑17(b); 78C‑18(d); 78C‑19(a); 78C-20; 78C‑30(a); 78C‑30(b); 78C‑46(b);

Temporary Rule Eff. January 2, 1989 for a period of 180 days to expire on June 30, 1989;

Eff. February 1, 1989;

Temporary Amendment Eff. October 1, 1997;

Amended Eff. August 1, 1998;

Temporary Amendment Eff. January 14, 2002;

Amended Eff. April 1, 2003;

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