Kentucky Administrative Regulations
Title 808 - PUBLIC PROTECTION CABINET - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 10 - Securities
Section 808 KAR 10:320 - Broker-dealer books and records requirements
Universal Citation: 808 KY Admin Regs Service 10:320
Current through Register Vol. 50, No. 9, March 1, 2024
RELATES TO: KRS 292.336(1)(a), 17 C.F.R. 240.17a-3, 240.17 -a-4, 15 U.S.C. 78q
NECESSITY, FUNCTION, AND CONFORMITY: KRS 292.500(3) authorizes the commissioner to promulgate administrative regulations necessary to carry out the provisions of KRS Chapter 292. KRS 292.336(1)(a) requires a registered broker-dealer to make and keep records required by the commissioner. This administrative regulation establishes the recordkeeping requirements for a broker-dealer.
Section 1.
(1) Pursuant to
KRS
292.336(1)(a), a
broker-dealer shall:
(a) Meet the
recordkeeping requirements established in
15 U.S.C.
78q; and
(b) Maintain his books and records in
accordance with the applicable federal regulations, including
17
C.F.R. 240.17a-3 and
17
C.F.R. 240.17a-4.
(2) The requirements established in
subsection (1) of this section shall apply to a broker-dealer subject to the
provisions of KRS Chapter 292.
(3)
The commissioner may upon application for good cause shown relieve a
broker-dealer of compliance with the requirements established in subsection (1)
of this section if the action is necessary or appropriate in the public
interest; or for the protection of an investor.
STATUTORY AUTHORITY: KRS 292.336(1)(a), 292.500(3)
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