Section 11-414 – Cancellation of Registration or Application; Abandonment of Notice Filing
(a) By order, the Commissioner may cancel a registration or application, if the Commissioner finds that the applicant or registrant: (1) Has abandoned the application; (2) Is no longer in existence; (3) Has ceased to do business as a broker-dealer, agent, investment adviser, or investment adviser representative; (4) Is subject to an adjudication of mental incompetence or the control of […]
Section 11-306 – Dishonest or Unethical Practices by Broker-Dealer or Agent Prohibited
A person who engages in the business of effecting transactions in securities for the account of others or for the person’s own account or who acts as a broker–dealer or agent may not engage in dishonest or unethical practices in the securities or investment advisory business.
Section 11-415 – Withdrawal From Registration
(a) Withdrawal from registration as a broker-dealer, agent, investment adviser, or investment adviser representative becomes effective 90 days after receipt of an application to withdraw or within any shorter period of time which the Commissioner determines, unless: (1) A revocation or suspension proceeding is pending when the application is filed; or (2) A proceeding to revoke, suspend, or […]
Section 11-307 – Reporting Financial Exploitation of Adults
(a) (1) In this section the following words have the meanings indicated. (2) “Eligible adult” means an individual who resides in the State and is: (i) At least 65 years old; or (ii) A vulnerable adult. (3) “Financial exploitation” means: (i) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult; or (ii) An act […]
Section 11-416 – Prerequisites to Order
An order may not be entered under any part of §§ 11-412 through 11-415 of this subtitle, except § 11-413(a), without: (1) Appropriate prior notice to the applicant or registrant, or person submitting a notice filing, as well as the employer or prospective employer if the applicant or registrant is an agent or investment adviser representative; […]
Section 11-401 – Transaction of Business by Unregistered Person Unlawful
(a) Except as provided in subsection (d) of this section, a person may not transact business in this State as a broker–dealer or agent unless the person is registered under this subtitle. (b) A person may not transact business in this State as an investment adviser or as an investment adviser representative unless: (1) The person is registered […]
Section 11-417 – Fine for Violation of Title
On notice and hearing as provided in § 11-416 of this subtitle, the Commissioner may fine any broker-dealer, agent, investment adviser, or investment adviser representative up to a maximum amount of $5,000 for any single violation of this title.
Section 11-402 – Agent Required to Be Registered
(a) (1) Except as provided in paragraph (3) of this subsection, a broker–dealer or issuer may not employ or associate with an agent unless the agent is registered. (2) Except as provided in paragraph (3) of this subsection, when an agent terminates a connection with a broker–dealer or issuer or terminates those activities which make the individual an […]
Section 11-403 – Expiration
Unless sooner terminated under other provisions of this title, the registration of each broker-dealer, agent, investment adviser, and investment adviser representative and the notice filing of each federal covered adviser expires December 31, unless renewed.
Section 11-404 – Agent or Representative Terminating Connection With Broker-Dealer, Issuer, or Investment Representative; Beginning Connection With Another Principal
(a) (1) The registration of an agent expires when the agent terminates a connection with a registered broker-dealer or with an issuer. (2) The registration of an investment adviser representative expires when the representative terminates a connection with: (i) An investment adviser registered under this subtitle; or (ii) A federal covered adviser subject to notice filing under § 11-405(b) of […]