Hawaii Administrative Rules
Title 16 - DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
Chapter 38 - SECURITIES - REPEALED
Subchapter 2 - DEALERS
Section 16-38-5.6 - Registration; expiration, renewal, termination

Universal Citation: HI Admin Rules 16-38-5.6

Current through August, 2024

(a) All registrations shall automatically expire on December 31 of each year (unless sooner terminated) and shall be renewed as provided in this section. A dealer or issuer shall be responsible for renewing the registration of its salespersons at the time the dealer or issuer renews its registration. A member of the NASD shall renew its registration with the commissioner by filing the renewal documents and fees through the CRD. All other dealers and issuers shall renew their registration by annually filing, not earlier than November 1 or later than December 1 of the current registration year, an originally executed copy of page one of Form BD together with:

(1) All amendments to Form BD that have previously been filed with the commissioner;

(2) A list of all salespersons of the dealer that are renewing their registrations for the coming calendar year;

(3) A copy of all amendments to Forms U- 4 of all such salespersons if such amendments have not been previously filed with the commissioner;

(4) A Form U- 5 on each registered salesperson of the dealer who is not renewing its salesperson registration; and

(5) A renewal fee as set forth in section 16-38-3 for the dealer and for each salesperson renewing a registration.

Dealers who fail to file a complete renewal with the commissioner by December 1 shall be subject to a penalty of one hundred per cent of the renewal fee.

(b) Where registrations are permitted to expire on December 31 without the filing of a renewal therefor, a subsequent application shall be considered in all respects as an original application.

(c) Registration of a dealer may be terminated prior to the expiration date by filing a Form BD-W with the commissioner. Termination of the dealer's registration for any reason shall automatically terminate the registration of each registered salesperson of the dealer.

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