Section 48-12-005 - UNETHICAL PRACTICES FOR AGENTSAn agent of a broker-dealer or issuer-dealer who engages in one or more of the following practices shall be deemed to have engaged in a "dishonest or unethical practice" as used in Section 8-1103(9)(a)(vii) of the Act:
005.01 Engaging in the practice of lending or borrowing money or securities from a customer, or acting as a custodian of money, securities or an executed stock power of a customer, unless such customer is a member of the agent's immediate family. 005.01A For purposes of this subsection, "immediate family" means a spouse, child, sibling, parent, grandparent, or grandchild, including stepparents, stepchildren, stepsiblings, and adoptive relationships.005.02 Effecting securities transactions not recorded on the regular books or records of the broker-dealer which the agent represents, unless the transactions are authorized in writing by the broker-dealer prior to execution of the transaction.005.03 Establishing or maintaining an account containing fictitious information in order to execute transactions which would otherwise be prohibited.005.04 Sharing directly or indirectly in profits or losses in the account of any customer unless the agent obtains the written authorization of the customer and the broker-dealer which the agent represents and the agent's share of profits or losses is in direct proportion to the financial contributions made to such account by either the member or person associated with a broker-dealer.005.05 Dividing or otherwise splitting an agent's commissions, profits or other compensation from the purchase or sale of securities with any person not also registered as an agent for the same broker-dealer, or for a broker-dealer under direct or indirect common control. 005.06 Using advertising describing or relating to the agent's securities business unless the advertising clearly identifies the name of the agent's employing brokerdealer or issuer-dealer.005.07 Misrepresenting the services of a registered broker-dealer or issuer-dealer on whose behalf the agent is soliciting business or accounts.005.08 Conducting a seminar, or advertising for a seminar, unless all advertisements, including, but not limited to, flyers, invitations, postcards, letters, e-mails, sales material, newspaper, television radio, and social media posts related to the seminar, and handouts given to attendees at the seminar, identify the name of the agent offering the seminar and any broker-dealer with which the agent is affiliated 005.08A For purposes of this subsection, "seminar" includes any educational or financial workshop targeted to members of the public at which at least one of the following occur: 005.08A1 Securities products are discussed;005.08A2 The advertising for the seminar states or implies that securities products are going to be discussed; or005.08A3 The presenter is collecting contact information to make future solicitations concerning securities products.48 Neb. Admin. Code, ch. 12, § 005
Amended effective 6/5/2017.Amended effective 11/27/2019Amended effective 6/13/2022