710 IAC 4-15-3 Time limitations for auditors

Sec. 3. (a) An examiner may not submit a compliance report for the branches of a broker-dealer for more than three (3) consecutive years. (b) If an examiner submits a report for a broker-dealer in a fourth consecutive year, that compliance report will not be accepted, and the broker-dealer will not have complied with the requirements of IC 23-19-4-11(i). (c) After an approved examiner submits a report on behalf of branches of a broker-dealer for three (3) consecutive years, that auditor may be engaged by that broker-dealer to complete a compliance report after two (2) years.