Virginia Administrative Code
Title 21 - SECURITIES AND RETAIL FRANCHISING
Agency 5 - STATE CORPORATION COMMISSION
Chapter 80 - INVESTMENT ADVISORS
Part II - Investment Advisor Representative Registration, Expiration, Updates and Amendments, Termination, and Changing Connection from One Investment Advisor to Another
Section 21VAC5-80-110 - Termination of registration
Current through Register Vol. 41, No. 3, September 23, 2024
A. When an investment advisor representative terminates his registration with an investment advisor, or an investment advisor terminates an investment advisor representative's registration, the investment advisor shall file notice of such termination on Form U5 within 30 calendar days of the date of termination. All filings shall be made on CRD.
B. When an investment advisor representative terminates his registration with a federal covered advisor, the federal covered advisor shall file notice of such termination on Form U5 within 30 calendar days of the date of termination. All filings shall be made on CRD.
C. If a representative learns that the investment advisor has not filed the appropriate notice, the representative may file notice with the commission at its Division of Securities and Retail Franchising. The commission may terminate the representative's registration if the commission determines that an investment advisor (i) is no longer in existence, (ii) has ceased conducting securities business, or (iii) cannot reasonably be located.
Statutory Authority
§§ 12.1-13 and 13.1-523 of the Code of Virginia.
