Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 22 - TRUST COMPANY REGULATIONS
Section 10VAC5-22-100 - Securities advice prohibited; exception
Universal Citation: 0 VA Admin Code 5-22-100
Current through Register Vol. 41, No. 3, September 23, 2024
An affiliated trust company may not express an opinion as to the advisability of purchasing any security underwritten by an affiliate, or in which any affiliate makes a market, unless the affiliated trust company clearly discloses in writing that the trust company and the underwriting affiliate are under common ownership, that the affiliate is underwriting or dealing in the security, and that the affiliate has a financial interest in the sale of the security, which interest shall be described.
Statutory Authority
§ 6.2-1034 of the Code of Virginia.
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