Arizona Laws 44-3153. Application for licensure as investment adviser; notice filings by federal covered advisers
A. Any person may apply for licensure as an investment adviser. The applicant shall sign an application for licensure.
Terms Used In Arizona Laws 44-3153
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- CRD system: means the central registration depository system of the national association of securities dealers, incorporated. See Arizona Laws 44-1801
- Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
- Division: means the securities division of the commission. See Arizona Laws 44-1801
- Federal covered adviser: means an investment adviser registered under the investment advisers act of 1940. See Arizona Laws 44-3101
- IARD: means the investment adviser registration depository operated by the national association of securities dealers. See Arizona Laws 44-3101
- Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Arizona Laws 44-3101
- Person: means an individual, corporation, partnership, association, joint stock company or trust, limited liability company, government or governmental subdivision or agency or any other unincorporated organization. See Arizona Laws 44-1801
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
- SEC: means the United States securities and exchange commission. See Arizona Laws 44-1801
- Service of process: The service of writs or summonses to the appropriate party.
- Trustee: A person or institution holding and administering property in trust.
B. An application for licensure as an investment adviser shall be filed with the commission through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.
C. An application for licensure shall contain the following, together with other information the commission prescribes:
1. A completed uniform application for investment adviser registration under the investment advisers act of 1940 together with other forms designated by the director.
2. Proof of compliance with written examination requirements.
3. Financial reports as required by the commission.
4. A notarized affidavit of any officer, director, partner, member, trustee or manager of the applicant that states:
(a) That a review of the records of the investment adviser has been conducted.
(b) Whether any investment adviser activity has been conducted with residents of this state before licensure as an investment adviser.
5. If the applicant intends to have a branch office in this state, the address and name of a contact individual at that branch office.
6. If the applicant is an individual and the applicant’s fingerprints are not on file with the division, the CRD system or the IARD, a full set of fingerprints. The commission shall submit the fingerprints to the department of public safety for the purpose of obtaining a state and federal criminal records check pursuant to section 41-1750 and Public Law 92-544. The department of public safety may exchange this fingerprint data with the federal bureau of investigation.
D. An application for licensure as an investment adviser shall be accompanied by payment of the licensure fee prescribed in section 44-3181.
E. A federal covered adviser may transact business in this state as an investment adviser if the federal covered adviser makes a notice filing with the commission through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.
F. The notice filing shall consist of all of the following:
1. Copies of those documents that are filed with the SEC and that the commission requires to be filed.
2. A consent to service of process.
3. A notice filing fee as prescribed in section 44-3181.
G. A notice filing is effective on compliance with the requirements of subsection E of this section and remains effective until December 31 unless it is renewed before that time by filing with the commission any renewal documents prescribed by the commission along with the notice filing fee prescribed in section 44-3181.
H. A federal covered adviser may terminate a notice filing by notifying the commission of that termination through the IARD. If the IARD does not provide for receipt of a filing, the filing may be made with the commission by mail or any other method that is reasonably acceptable to the commission.