Section 48-9-007 - DUAL REGISTRATIONRegistration as an investment adviser representative with more than one investment adviser or federal covered adviser at the same time is prohibited except when the investment adviser representative is in the process of transferring his or her registration or when the investment advisers or federal covered advisers are affiliates.
007.01 Dual registration pending transfer is permitted only if the following conditions are satisfied: 007.01A The investment adviser representative's new investment adviser or federal covered adviser notifies the Director about the transfer within seven days after the investment adviser representative's termination with his or her former investment adviser or federal covered adviser.007.01B The investment adviser representative's new investment adviser or federal covered adviser submits the agent's Form U4 to the Director within twenty-one days after the notice of termination has been submitted.007.01C The investment adviser representative does not have a disciplinary history that must be disclosed on Form U4.007.02 An investment adviser representative may be registered with more than one investment adviser or federal covered adviser if the investment advisers or federal covered advisers involved are affiliates. 007.02A Affiliate means a person who, directly or indirectly, controls, is controlled by, or is under common control with, another person.007.02B For purposes of this section, control is defined as ownership, directly or beneficially, of eighty percent or more of the outstanding voting securities of another company.48 Neb. Admin. Code, ch. 9, § 007
Amended effective 6/5/2017.Amended effective 6/13/2022