Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 08 - Securities
Article 1 - Registration, Notice, and Regulation of Broker-Dealers, Agents, State Investment Advisers, and Federal Covered Advisers, and Investment Adviser Representatives
3 AAC 08.016 - Transferred or successor registration or notice

(a) A broker-dealer or an issuer may apply to the administrator to transfer its agent's registration in order to transfer the business of the agent to other registered broker-dealers or issuers. The agent may not conduct the business of an agent after transfer until the transferred registration is effective under this chapter.

(b) A broker-dealer or issuer who is also not registered with NASD or required by federal law to be registered with NASD shall transfer an agent's affiliation from another broker-dealer or issuer by filing with the administer a signed, complete NASDR Form U-4, or its successor, with "AK" checked, together with the applicable fee as provided in 3 AAC 08.015.

(c) A broker-dealer that is a member of NASD or is required by federal law to be a NASD member shall transfer an agent's affiliation from another NASD broker-dealer by filing the appropriate application with the CRD, or any successor system, and shall comply with applicable NASD rules regarding filing requirements, dates, and payments of applicable fees set out in 3 AAC 08.015. An application filed under this subsection is processed as an initial applications in accordance with 3 AAC 08.010 and 3 AAC 08.011.

(d) A registered broker-dealer may register a successor by filing with the administrator the following:

(e) If a broker-dealer succeeds to and continues the business of another broker-dealer, the registration of the predecessor broker-dealer is effective as the registration of the successor broker-dealer for 60 days after that succession or until the last day of the calendar year, whichever is sooner, but only if the successor broker-dealer has filed the SEC Form BD, or its successor, with the administrator within 30 days after the succession or before the last day of the calendar year, whichever occurs earlier.

(f) If a broker-dealer partnership that is not registered with the administrator succeeds to and continues the business of a predecessor partnership that was registered as a broker-dealer and files an SEC Form BD, or its successor, with the administrator to reflect changes in the partnership the administrator will treat a SEC Form BD, or its successor, as an application for registration under this chapter. The administrator will take this action even though the form filed may be designated as an amendment to an existing registration of the predecessor partnership under this chapter.

(g) A registered state investment adviser or federal covered adviser that filed notice under this chapter may register or notice a successor by filing the following:

(h) If a state investment adviser registered under this chapter or a federal covered adviser that filed notice under this chapter succeeds to and continues the business of another state investment adviser registered under this chapter or a federal covered adviser that filed notice under this chapter, the registration or notice of the predecessor is effective as the registration or notice of the successor for the unexpired portion of the predecessor's registration or notice. If, after the succession, the resulting entity is a federal covered adviser, the notice of succession remains valid as the filing of notice required of a federal covered adviser, whether the predecessor had been registered under AS 45.55 as a state investment adviser or noticed as a federal covered adviser.

(i) The administrator will treat a SEC Form ADV as an application for registration or notice even though the form was designated as an amendment if