02-032 C.M.R. ch. 504, § 3 - Application for licensure
1.
Initial
application. The application for initial licensure pursuant to Section
16406(1)(A) of the Act shall be made by a broker-dealer completing Form BD or
an agent completing Form U-4, in accordance with the form instructions, and by
filing the form with CRD.The application for initial licensure shall also
include the fee required by Rule Chapter 541.
2.
Annual renewal. Pursuant to
Section 16406(4) of the Act, a license is effective until midnight on December
31st of the year for which the application for licensing was filed. Alicensee
shall renew a license through CRD and pay the fee required by Rule Chapter
541.
3.
Amendments.
Pursuant to Section 16406(2) of the Act, if the information or record contained
in an application filed under this section is or becomes inaccurate or
incomplete in a material respect, the licensee shall promptly file a correcting
amendment. An amendment will be considered to be filed "promptly" if it is
filed within thirty (30) days of the event that requires the filing.
4.
Completion of filing. An
application for initial licensure or a renewal is not considered filed for
purposes of Section 16406 of the Act until all required forms have been
completed and filed, all required fees have been paid, and all additional
information and records requested by the Administrator under Section 16406 have
been received.
5.
Branch
offices. Each broker-dealer shall file with CRD a Form BR, in accordance
with the form instructions, for each branch office in Maine and shall pay the
initial fee required by Rule Chapter 541.The filing is effective until midnight
on December 31st of the year in which the filing was
made. Each broker-dealer shall renew its branch office filings with CRD and
shall pay the renewal fee required by Rule Chapter 541.
Notes
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