California Code of Regulations
Title 16 - Professional and Vocational Regulations
Division 41 - Professional Fiduciaries Bureau
Article 6 - License Denial
Section 4521 - Criteria to Aid in Determining if Felony Financial Crimes Are Directly and Adversely Related to Fiduciary Qualifications, Functions, or Duties of a Licensee
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
For the purposes of Section 480, subdivision (a)(1)(B)(ii) of the Business and Professions Code, a financial crime that is classified as a felony, including felony conspiracy or felony attempt to commit that crime, shall be considered to be directly and adversely related to the fiduciary qualifications, functions, or duties of a professional fiduciary if it involves dishonesty, fraud, deceit, or theft that resulted in or could have resulted in either:
(i) direct financial benefit to the applicant or another person, estate, or trust, or
(ii) direct financial harm to another person, estate, or trust. Financial crimes that are directly and adversely related to the fiduciary qualifications, functions, or duties of a professional fiduciary shall include, but are not limited to, the following:
1. New section filed 2-1-2021; operative 2-1-2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 6). Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.
Note: Authority cited: Sections 480 and 6517, Business and Professions Code. Reference: Sections 480, 481, 492, 6536 and 6537, Business and Professions Code.
