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    Document Summary
    - Report Published -

    House Document No. 15
    PUBLICATION YEAR 1999

    Document Title
    Statutory and Regulatory Requirements Concerning Broker-Dealer Agent and Investment Advisor Representative Employment Transitions

    Author
    State Corporation Commission; Division of Securities and Retail Franchising

    Enabling Authority
    HJR 150 (Regular Session, 1998)

    Executive Summary
    In House Joint Resolution 150, the General Assembly requested the Division of Securities and Retail Franchising of the State Corporation Commission to study the licensing requirements for broker-dealer agents ("agent") and investment advisor representatives ("representative'') currently in place to determine whether the Virginia Securities Act should be amended to allow these persons to retain their registrations in the event that they change employers, are furloughed, or have their employment terminated where no unlawful conduct occurred. The Commission's Division of Securities and Retail Franchising was asked to determine whether Virginia's regulatory system adequately allows for the continuation of an agent's or representative's registration following termination of employment.