Arizona Laws 44-3156. Application for licensure as investment adviser representative
A. Any individual may apply for licensure as an investment adviser representative. An application for licensure as an investment adviser representative shall be signed by the applicant and by the licensed or federal covered adviser employing or intending to employ the applicant.
Terms Used In Arizona Laws 44-3156
- 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
- Investment adviser representative: means any partner, officer or director of an investment adviser, any individual who occupies a status or performs functions similar to a partner, officer or director of an investment adviser or any other individual who is employed by or associated with an investment adviser, except clerical or ministerial personnel, and who does any of the following:
(a) Makes any recommendations or otherwise renders advice regarding securities. See Arizona Laws 44-3101
- Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
B. An application for licensure as an investment adviser representative 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 reasonable method that is acceptable to the commission.
C. An application for licensure shall include the following, together with other information the commission prescribes:
1. A completed form U-4 or any other form as the director may designate. An applicant that has a current form U-4 filed with this state may submit a brief written request for licensure with the commission.
2. Proof of compliance with written examination requirements.
3. If 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 representative shall be accompanied by payment of the licensure fee prescribed in section 44-3181.