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 08.075 - Failure to cooperate

Universal Citation: 3 AK Admin Code 08.075

Current through February 24, 2025

(a) A registered person shall cooperate in any inquiry, investigation, or inspection conducted by, or on behalf of, the administrator, for the purposes of determining whether a person has violated or is about to violate a provision of AS 45.55 or this chapter or an order issued under AS 45.55 or this chapter.

(b) A registered person's wilful failure to cooperate, absent good cause or bona fide claim of privilege, may be determined by the administrator a violation of AS 45.55 within the meaning of AS 45.55.060 and therefore subject the registered person to denial, suspension, or revocation of registration. The administrator may determine failure to cooperate to include

(1) the failure to timely respond by way of appearance or production of documents to a subpoena or order issued by the administrator under AS 45.55.910 or as may otherwise be provided by law;

(2) the failure to answer any question pertinent to an inquiry or request for information made under AS 45.55 or this chapter unless the response to said question is subject to a bona fide claim of privilege;

(3) the failure to grant the administrator access to the business premises of a registered person or to the records and documents that the registered person is required under AS 45.55 or this chapter to make available for inspection;

(4) the failure to attend any scheduled proceeding at which the registered person's appearance is directed; or

(5) aiding or abetting another registered person's failure to cooperate.

(c) For purposes of this section, a registered person includes

(1) a person who the administrator has approved to conduct business as a brokerdealer, agent, state investment adviser, or investment adviser representative; and

(2) a person applying for registration as a broker-dealer, agent, state investment adviser, or investment adviser representative.

Authority:AS 45.55.060

AS 45.55.910

AS 45.55.950

Disclaimer: These regulations may not be the most recent version. Alaska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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