Okla. Admin. Code § 660:11-7-11

Current through Vol. 41, No. 19, June 17, 2024

Section 660:11-7-11 - Initial registration

(a)Investment adviser. Investment advisers applying for initial registration pursuant to Section 1-406 of the Securities Act:

(1) shall file with the IARD:

(A) fully completed Parts I and II of Form ADV;

(B) a Form BR for each office located within the state of Oklahoma, and if the investment adviser's principal office is located in Oklahoma, all offices located elsewhere; and

(C) the filing fee specified in Section 1-612 of the Securities Act;

(2) shall file with the Department:

(A) financial statements as required by 660:11-7-44 unless exempt therefrom;

(B) a copy of each form of investment advisory contract to be executed by Oklahoma clients and if the principal office of the investment adviser is located in Oklahoma, a copy of each form of investment advisory contract to be executed by any other clients;

(C) prior to the effective date of registration, proof that the applicant maintains an errors and omissions insurance policy in the amount of at least $1 million per claim form an insurer authorized to transact insurance in the state of Oklahoma or from any other insurer approved by the Administrator according to standards established by 660:11-7-21; and

(D) any additional documentation, supplemental forms, and information as the Administrator may deem necessary; and

(3) if a natural person, must have passed the applicable examinations specified in 660:11-7-13.

(b)Investment adviser representative. Investment adviser representatives applying for initial registration under the Securities Act:

(1) shall file with the CRD:

(A) a completed or updated Form U-4;

(B) the filing fee specified in Section 1-612 of the Securities Act;

(C) proof of applicant's approved status of registration or licensure in a jurisdiction in which he has an office of employment where such registration is required; and

(D) any additional documentation, supplemental forms, and information as the Administrator may deem necessary;

(2) must have passed the applicable examinations specified in 660:11-7-13.

Okla. Admin. Code § 660:11-7-11

Added at 21 Ok Reg 2532, eff 7-1-04; Amended at 30 Ok Reg 2075, eff 8-1-13

Amended by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 11/1/2018

Amended by Oklahoma Register, Volume 37, Issue 24, September 1, 2020, eff. 11/1/2020

Amended by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/15/2022