HAR §16-39-452. Application

(a) An application for registration of an investment adviser representative shall be filed on Form U-4 through the IARD. §16-39-452 39-95 (b) The application shall be filed together with the following: (1) The application fee set forth in section 16- 39-103; and (2) Evidence of compliance with section 16-39- 451. (c) The commissioner may also require additional information regarding the applicant's history, record, and association, including without limitation the following: (1) Disclosure of any injunction or administrative order or conviction of a misdemeanor involving a security or any aspect of the securities business and any conviction of a felony; (2) The applicant's financial condition and history; (3) Disclosure as to whether the investment adviser representative or any person associated in business with the investment adviser representative is subject to any disqualification which would be a basis for denial, suspension, or revocation of registration of the agent under section 16- 39-470 or chapter 485A, HRS; and (4) Any additional information that the commissioner deems necessary to establish the applicant's qualifications. (d) All documents submitted to the commissioner shall be approved and registration shall become effective at noon on the forty-fifth calendar day after the submission of a completed application unless otherwise provided by State or federal law or unless an earlier effective date is specified by the commissioner. (e) An investment adviser representative's application that has been on file for a period of sixty calendar days with no attempt to comply with any notice of deficiency may be denied by the commissioner or withdrawn. The commissioner shall provide written notification of the denial to the investment adviser §16-39-452 39-96 with which the applicant is affiliated. If the application was filed through the IARD, the notification may be provided through the IARD. (f) The termination of any investment adviser's registration for any reason shall automatically terminate the registration of all investment adviser representatives registered thereunder. (g) When an investment adviser representative ceases the activities of an investment adviser representative, or the investment adviser representative otherwise becomes ineligible to be registered, a notice to terminate the registration shall be filed with the commissioner on Form U-5 by either the investment adviser representative or the investment adviser with whom the investment adviser representative is registered. The termination of the registration shall be effective upon the commissioner's receipt of such form unless another date is indicated on the Form U-5. [Eff 6/30/08; comp 11/18/23] (Auth: HRS §§485A-406, 485A-606) (Imp: HRS §§485A-406, 485A-408, 485A-409)