OAR 441-175-0060
Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996

(1)

A FINRA broker dealer is not required to comply with the corporate surety bond, irrevocable letter of credit or net capital requirements for licensing in this state as described in OAR 441-175-0080 (Applications for Licensing of Broker-Dealers) or 441-175-0110 (Surety Bond; Letter of Credit).

(2)

Intentionally left blank —Ed.

(a)

A federal covered investment adviser that makes a notice filing under ORS 59.165 (Licensing of broker-dealers, investment advisers and salespersons required)(7) and section (4) of this rule does not have to comply with OAR 441-175-0100 (Applications for Licensing of Investment Advisers) and 441-175-0110 (Surety Bond; Letter of Credit).

(b)

A state investment adviser who has a principal place of business in a state other than this state and complies with that state’s bonding or net capital requirements is not required to comply with the corporate surety bond, irrevocable letter of credit or net capital requirements for licensing in this state in OAR 441-175-0100 (Applications for Licensing of Investment Advisers) and 441-175-0110 (Surety Bond; Letter of Credit).

(c)

An out-of-state state investment adviser that is not exempt under the “de minimis” exemption of ORS 59.015 (Definitions for Oregon Securities Law)(20)(b)(J) must license in this state and can only operate in this state through an investment adviser representative licensed in this state.

(3)

Surety bonds currently in effect in Oregon filed by a broker-dealer, federal covered investment adviser or out-of-state state investment adviser that no longer has to file a bond or letter of credit under ORS 59.175 (Procedures for notice filing and licensing) and this rule shall continue in effect until canceled. However, the liability on the bond or letter of credit continues for six years following its cancellation.

(4)

Intentionally left blank —Ed.

(a)

Notice filing by a federal covered investment adviser will be accepted by the director through IARD using a Form ADV and shall include the fee required by OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals).

(b)

The renewal of the notice filing for a federal covered investment adviser will be accepted by the director through IARD and shall include the fee required under OAR 441-175-0002 (Fees for Licensing or Notice Filing of Firms and Individuals).
[ED. NOTE: Forms referenced are available from the agency.]

Source: Rule 441-175-0060 — Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-175-0060.

441‑175‑0002
Fees for Licensing or Notice Filing of Firms and Individuals 441‑175‑0010
Definitions 441‑175‑0015
When Licensing Application Deemed Abandoned 441‑175‑0020
Exclusion from Definition of “Broker-Dealer” 441‑175‑0030
Exclusion from Definition of “Investment Adviser” 441‑175‑0040
Exclusion from Definition of “Salesperson” 441‑175‑0041
Exclusion from Definition of “Investment Adviser Representative” 441‑175‑0046
Federal Covered Investment Advisor Representative 441‑175‑0050
Rules of Fair Practice for Real Estate Licensees 441‑175‑0055
Rules of Fair Practice for Mortgage Banker and Mortgage Broker Licensees 441‑175‑0060
Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996 441‑175‑0070
General Licensing Rules for Broker-Dealers, Investment Advisers and Salespersons, Succession and Acquisition 441‑175‑0080
Applications for Licensing of Broker-Dealers 441‑175‑0085
Limited Licensing of Canadian Broker-Dealers and Salespersons 441‑175‑0100
Applications for Licensing of Investment Advisers 441‑175‑0105
Material Changes, Amendments and Notice of Civil and Criminal Actions 441‑175‑0110
Surety Bond 441‑175‑0120
Licensing of Salespersons or Representatives to Non-FINRA Broker-Dealers, State or Federal Covered Investment Advisers, Issuers and Owners of Securities 441‑175‑0130
Licensing of Salespersons to FINRA Broker-Dealers 441‑175‑0140
Disqualification from Automatic Licensing 441‑175‑0150
Termination or Cancellation of Salesperson or Investment Adviser Representative License 441‑175‑0160
Renewal of FINRA Broker-Dealer and Salesperson Licenses 441‑175‑0165
Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives 441‑175‑0171
Use of Trade Name or Assumed Business Name 441‑175‑0175
Internet Communications 441‑175‑0185
Errors and Omissions Coverage under ORS 59.175
Last Updated

Jun. 8, 2021

Rule 441-175-0060’s source at or​.us