Yesterday's post concerned possible arguments that federal law preempts Nevada's fiduciary standard for broker-dealers. At present, any preemption would have to be based on the National Securities Markets Improvement Act and/or the Dodd-Frank Act. ...
The 2014 Budget Act requires the Department of Business Oversight to provide a report on its broker-dealer/investment adviser program to the the Legislature and the Department of Finance by January 10 of each year. While not exactly scintillating...
Yesterday's post chided Glass, Lewis & Co., LLC for its inconsistent positions on majority rule. Today's post tackles a foolish inconsistency in the California Codes. Section 25217(c) of the California Corporations Code provides:
A broker-dealer...
broker-dealer, Broker-Dealers, Cal. Const. Art. XV, Finance Lender, Finance Lenders, Finance Lenders Law, In re Stephan, personal property broker, Section 22050, Section 25217
Is your California securities broker-dealer a licensed personal property broker? Does it need to have such a license to make loans to its customers? Anyone reading California Corporations Code Section 25217(c) would conclude that it must:
A...
broker-dealer, Broker-Dealers, Financial Code, Financial Code Section 17000, Finance Lenders Law, personal property broker, Section 22050, Section 25217, Section 22000, Section 25211
The Commissioner of Business Oversight's final regulations implementing a new exemption for finders from the broker-dealer provisions of the Corporate Securities Law took effect on June 21, 2017. See 10 CCR §§ 260.211.4, 260.211.5, 260.211.6 and...
broker-dealer, Broker-Dealers, Section 25206.1, exemption, 260.211.4, 260.211.5, 260.211.6, 260.211.7, AB 667, Commissioner of Business Oversight
Nearly one year ago, the California Department of Business Oversight proposed regulations to implement the provisions of AB 667 (Wagner). The bill, which was enacted in 2015 and took effect last year, created a new exemption from the broker-dealer...
broker-dealer, Broker-Dealers, Seciton 11349.3, Section 11346.4, exemption, AB 667, Administrative Procedure, Administrative Procedure Act, Department of Business Oversight, finders, Office of Administrative Law
Last July, the California Department of Business Oversight proposed regulations to implement the provisions of AB 667 (Wagner). The bill, which was enacted in 2015 and took effect last year, created a new exemption from the broker-dealer...
broker-dealer, Broker-Dealers, exemption, AB 667, Department of Business Oversight, finders
The California Department of Business Oversight recently issued a report on its Broker-Dealer/Investment Adviser Program. This report was required by the Budget Act of 2014. Although short, the report provides some interesting data...
broker-dealer, Broker-Dealers, report, Uncategorized, Department of Business Oversight, Department of Corporations, examination, Investment Adviser, Investment Advisers
Keith Paul Bishop
