Material Changes, Amendments and Notice of Civil and Criminal Actions
(1)A broker-dealer or state investment adviser applicant or licensee must file an amendment to its application and a broker-dealer, state or federal covered investment adviser, must file an amendment to the application of their respective salespersons or investment adviser representatives if there is a material change to any information on the original application or previous amendments including:
(b)Civil or criminal actions described on the application;
(c)Disciplinary disclosure answers on the application;
(d)Change in or additional affiliated business entity name;
(e)Change in ownership other than as provided in OAR 441-175-0070 (General Licensing Rules for Broker-Dealers, Investment Advisers and Salespersons, Succession and Acquisition)(7);
(f)Change in form of organization;
(g)Change of address; or
(h)Change in scope of business.
(2)Amendments must be filed within 30 days of the occurrence of the material change. If a completed amendment cannot be filed within 30 days, the applicant or licensee shall file with the director within the 30 day limit a written notice containing available information, the reasons a complete amendment cannot be timely filed and a specific date on which the completed amendment will be filed.
(3)Amendments to the application shall be made on:
(a)A Form BD for broker-dealers;
(b)A Form ADV for state investment advisers; and
(c)A Form U-4 for salespersons or investment adviser representatives.
(4)Amendments to the application shall be filed with:
(a)The CRD for broker-dealers who are or will be members of the FINRA and their salespersons; except for changes in designated supervisor, which shall be filed with the director;
(b)The IARD for any investment advisers or investment adviser representatives who have previously filed applications through IARD; or
(c)The director for all other persons.
(5)Filing amendments to a salesperson or investment adviser representative application shall be the responsibility of both the salesperson or investment adviser representative and the employing broker-dealer, or state or federal covered investment adviser.
(6)There is no fee required in connection with an amendment filed pursuant to this rule.
Rule 441-175-0105 — Material Changes, Amendments and Notice of Civil and Criminal Actions,