Kentucky Administrative Regulations
Title 808 - PUBLIC PROTECTION CABINET - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 10 - Securities
Section 808 KAR 10:020 - Capital, records and reporting requirements of broker-dealers
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 292.330, 292.460, 15 U.S.C. 78o(h)
NECESSITY, FUNCTION, AND CONFORMITY: KRS 292.500(3) authorizes the executive director to promulgate administrative regulations necessary to carry out the provisions of KRS Chapter 292. 15 USC 78o(h) prohibits a state from establishing capital, custody, margin, financial responsibility, making and keeping records, bonding, or financial or operational reporting requirements for a broker, dealer, municipal dealer, government security broker, or government security dealer that differs from, or are in addition to, the federal requirements. This administrative regulation establishes the state requirements for a person registered pursuant to the federal requirements established in 15 USC 78o.
Section 1. A broker-dealer, municipal security dealer, government security broker, or government security dealer shall:
STATUTORY AUTHORITY: KRS 292.500(3), 15 U.S.C. 78o(h)