292.334 Notice of termination of employment or association -- Termination of
430 words·~2 min read·
/ky/292-334A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
registration or application by commissioner -- Temporary registration --
Withdrawal of registration or notice filing.
(1)If an agent registered under this section terminates employment by or association
with a broker-dealer or issuer, then the broker-dealer or issuer shall promptly file a
notice of termination. The agent may file the notice of termination if the issuer or
broker dealer has not done so within thirty
(30)days of the effective date of
termination.
(2)If an investment adviser representative registered under this section terminates
employment by or association with an investment adviser or covered adviser, then
the investment adviser or covered adviser shall promptly file a notice of
termination. The investment adviser representative may file the notice of
termination if the investment adviser or covered adviser has not done so within
thirty
(30)days of the effective date of termination.
(3)If the commissioner determines that any registrant or applicant for registration is no
longer in existence or has ceased to do business as a broker-dealer, agent,
investment adviser, or investment adviser representative, or is subject to an
adjudication of mental disability or to the control of a conservator or guardian, or
cannot be located after reasonable search, then the commissioner may by order
terminate the registration or application.
(4)An administrative regulation or order under this chapter may establish a procedure
for temporary registration when an agent or an investment adviser representative
registered under this chapter transfers employment or association to another broker-
dealer or investment adviser, but any registration so transferred shall not be
effective for more than thirty
(30)days, unless within that thirty
(30)days a properly
completed application is filed.
(5)A broker-dealer, agent, investment adviser, or investment adviser representative
may withdraw a registration by filing an application to withdraw. The withdrawal
becomes effective thirty
(30)days after receipt of the application by the
commissioner or within such shorter period of time as the commissioner may
determine, unless a revocation or suspension proceeding is pending.
(a)If a proceeding is pending to revoke or suspend the registration, then the
withdrawal becomes effective at such time and upon such conditions as the
commissioner by order determines; or
(b)If a proceeding is not pending, then the commissioner may institute a
revocation or suspension proceeding under this chapter within one
(1)year
after withdrawal became effective and enter a revocation or suspension order
as of the last date on which registration was effective.
(6)A covered adviser may withdraw a notice filing by filing a notice of withdrawal.
The withdrawal is effective upon receipt by the commissioner.