Missouri Code of State Regulations
Title 15 - ELECTED OFFICIALS
Division 30 - Secretary of State
Chapter 59 - Registration and Operations of Commodity Broker-Dealers and Sales Representatives
Section 15 CSR 30-59.190 - Disclosure Statements

Universal Citation: 15 MO Code of State Regs 30-59.190

Current through Register Vol. 49, No. 18, September 16, 2024

PURPOSE: This rule requires broker-dealers or sales representatives to furnish the customer disclosure regarding the commodity and the broker-dealer company.

(1) Broker-dealers or sales representatives must furnish to each customer purchasing commodities, no later than the date of confirmation of the transaction, a disclosure statement, which must set forth all of the information as follows:

(A) Risk factors including a statement regarding the stability of the specific commodity market and competition in this type of business;

(B) Explanation of the specific commodity market including place where trades are made and whether market was created or controlled by the broker-dealer company;

(C) Explanation of the broker-dealer company organizational structure including the names of officers, directors and affiliates of the broker-dealer company;

(D) Explanation of the broker-dealer's longevity of operation in the commodities business and the name of the state under the laws of which it was organized;

(E) Statement setting forth the capitalization of the broker-dealer company; and

(F) Description of any pending material litigation or administrative proceedings that involve the broker-dealer company or its officers, directors or affiliates. Include similar information as to any such proceedings known to be contemplated by governmental authorities.

(2) A copy of a disclosure statement (schedules of Form BD, see 15 CSR 30-51.020) must accompany each renewal application (Form BD, see 15 CSR 30-51.020) of broker-dealers filed under 15 CSR30-59.070(1)(B) and 15 CSR 30-59.170(4).

*Original authority: 409.810, RSMo 1985; 409.818, RSMo 1985; and 409.836, RSMo 1985.

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