D.C. Mun. Regs. tit. 26, r. 26-B121

Current through Register 71, No. 45, November 7, 2024

Rule 26-B121 - EMPLOYMENT RECORDS

121.1

Any broker-dealer maintaining employment records pursuant to SEC or FINRA rules shall be deemed to be in compliance with this section. Any broker-dealer not in compliance with SEC or FINRA employment records rules shall make and keep employment records, and other documents relating to business conducted in the District as specified in this section, and shall keep a copy of the questionnaire or application for employment executed by each "associated person" of the broker-dealer.

121.2

The questionnaire or application shall be approved in writing by an authorized representative of the broker-dealer and shall contain at least the following information with respect to the associated person:

(a) His or her name, address, social security number, and the starting date of his or her employment or other association with the broker-dealer;

(b) His or her date of birth;

(c) The educational institutions attended by him or her and whether or not he or she graduated therefrom;

(d) A complete, consecutive statement of all his or her business connections for at least the preceding ten (10) years, including his or her reason for leaving each prior employment, and whether the employment was part-time or full-time;

(e) A record of any denial of membership or registration, and of any disciplinary action taken, or sanction imposed, upon him or her by any federal or state agency, or by any national securities exchange or national securities association, including any finding that he or she was a cause of any disciplinary action or had violated any law;

(f) A record of any denial, suspension, expulsion or revocation of membership or registration of any broker-dealer with which he or she was associated in any capacity when the action was taken;

(g) A record of any permanent or temporary injunction entered against him or her or any broker-dealer with which he or her was associated in any capacity at the time the injunction was entered;

(h) A record of any arrests, indictments or convictions for any felony or any misdemeanor, except minor traffic offenses, of which he or she has been the subject;

(i) A record of any other name or names by which he or she has been known or which he or she has used. Provided, that if the associated person has been registered as a registered representative of the broker-dealer with, or his or her employment has been approved by, the FINRA, or the American Stock Exchange, the New York Stock Exchange, the Pacific Coast Stock Exchange, or the Philadelphia Stock Exchange, then retention of a full, correct, and complete copy of any and all application for the registration or approval shall be considered to satisfy the requirements of this subsection.

D.C. Mun. Regs. tit. 26, r. 26-B121

Final Rulemaking published at 40 DCR 6732 (September 24, 1993); as amended by Emergency Rulemaking published at 48 DCR 1987 (March 2, 2001) [EXPIRED]; as amended by Final Rulemaking published at 48 DCR 4106 (May 11, 2001)