Virginia Administrative Code
Title 21 - SECURITIES AND RETAIL FRANCHISING
Agency 5 - STATE CORPORATION COMMISSION
Chapter 20 - BROKER-DEALERS, BROKER-DEALER AGENTS AND AGENTS OF THE ISSUER
Part I - Broker-Dealers
Section 21VAC5-20-85 - Limited Canadian broker-dealer registration
Current through Register Vol. 41, No. 3, September 23, 2024
A. A broker-dealer that is resident in Canada and has no office or other physical presence in the Commonwealth of Virginia may, provided the broker-dealer is registered under this section, effect transactions in securities:
B. Application for registration as a broker-dealer under this section shall be filed with the commission at its Division of Securities and Retail Franchising or such other entity designated by the commission on and in full compliance with forms prescribed by the commission and shall include all information required by such forms.
C. An application for registration as a broker-dealer under this section shall be deemed incomplete for purposes of applying for registration unless the following executed forms, fee, and information are submitted to the commission:
D. A broker-dealer registered under this section shall:
E. A broker-dealer's registration under this section, and any renewal thereof, shall expire annually at midnight on the 31st day of December unless renewed in accordance with subsection F of this section.
F. To renew its registration, a broker-dealer registered under this section shall file with the commission at its division the most recent renewal application, if any, filed in the jurisdiction in which the broker-dealer maintains its principle place of business, or if no such renewal application is required, the most recent application filed pursuant to subdivision C 1 of this section along with the statutory fee in the amount of $200 United States currency pursuant to § 13.1-505F of the Act.
G. A Canadian broker-dealer registered under this section and acting in accordance with the limitations set out in this section is exempt from all other rules applicable to broker-dealers except the anti-fraud provisions of the Act and the requirements set out in this section.
Statutory Authority: §§ 12.1-13 and 13.1-523.1 of the Code of Virginia (21VAC5-20-85, 21VAC5-20-155) .
§§ 12.1-13 and 13.1-523 of the Code of Virginia (21VAC5-20-280, 21VAC5-45-20, 21VAC5-80-130, 21VAC5-80-200, 21VAC5-80-220) .
§§ 12.1-13 and 13.1-514 of the Code of Virginia (21VAC5-40-190 ).