Cal. Code Regs. tit. 10 § 2910.5

Current through Register 2022 Notice Reg. No. 24, June 17, 2022
Section 2910.5 - Financial Crimes Regulatory Finding and Definition
(a) Pursuant to Business and Professions Code Section 480(a)(1)(B), the Department finds that financial crimes currently classified as a felony and described by the following definition are directly and adversely related to the fiduciary qualifications, functions, or duties of a licensee.
(b) A financial crime, as referenced in Business and Professions Code Section 480(a)(1)(B), is any crime where the applicant did one or more of the following in the commission of a criminal offense:
(1) Obtained money, property, or services.
(2) Deprived their victim of money, property, or services.
(3) Engaged in acts involving mishandling of money, property, or services, including but not limited to money laundering.
(4) Committed an act of fraud, dishonesty, a breach of trust, or money laundering, as those terms are referenced in the United States Code Service at Title 12, Section 5104(b)(2)(B).

Cal. Code Regs. Tit. 10, § 2910.5

Note: Authority cited: Sections 481 and 10080, Business and Professions Code. Reference: Sections 480, 481 and 490, Business and Professions Code.

1. New section filed 3-26-2021; operative 3-26-2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 13).