<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0 { background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000001 { background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002 { background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } a.sb81d33ee-981e-435a-a3f4-b76e9645d1ae000004 { text-decoration: none; } </style></head><body><div><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:08:03:01"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000000">20:08:03:01</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000001">.  Registration for broker-dealers, broker-dealer agents, and agents of the issuer. </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    (1)  Definitions</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">. Terms in this chapter mean</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (a)  "</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">CRD,</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">" </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">the Central Registration Depository;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (b)  "</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">Division,</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">" </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">the Division of Insurance, South Dakota Department of Labor and Regulation;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (c)  </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">"FINRA," the Financial Industry Regulatory Authority, Inc.;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (d)  "</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">NASAA," the North American Securities Administrators Association, Inc.;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (e)  "</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">OSJ," the Office of Supervisory Jurisdiction as defined in FINRA Rule 3110(f) (July 1, 2024).</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    (2)  Broker-dealer registration, supervision, post registration, renewal, and withdrawal requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">a</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Registration: Except as set forth in subdivision (2)(</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">f</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">) of this section, to register as a broker-dealer</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">,</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> the applicant must be a member of FINRA and file with the CRD the following:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    SEC Form BD (Uniform Application for Broker-Dealer Registration); and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    The registration fee pursuant to SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(a).</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        A certificate of registration will not be issued. Proof of status is available from the CRD.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">b</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Supervision:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    Every registered broker-dealer must employ at its principal office and at each OSJ in this state, at least one person designated to act in a supervisory capacity, who is registered as an agent in this state and has satisfied the supervisory examination requirements of FINRA. For any other office in this state, not designated as an OSJ, a supervisor must be designated to supervise the office; however, the supervisor need not be located in this state, but must be registered in this state as an agent and satisfy the supervisory examination requirements of FINRA.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        Failure to abide by this subdivision for more than </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> days may result in revocation or the suspension of the registered broker-dealer until such time as there is compliance with this rule.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">c</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Post registration:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    The applicant must file amendments to SEC Form BD in accordance with the instructions on those forms with the CRD only.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    The applicant must file SEC Form X-17A-5 FOCUS reports in a timely manner with FINRA. However, the division may request </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">the </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">applicant provide a copy of the FOCUS report.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">d</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Registration renewal requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    All registrations expire on December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> of each year.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    To renew registration, the applicant must submit to the CRD the registration fee pursuant to SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(a) before December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">e</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Registration withdrawals:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">To withdraw a registration, the applicant must file with the CRD, or with the division if not required by the CRD, SEC Form BDW (Uniform Request for Withdrawal from Registration as a Broker-Dealer).</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    A withdrawal is effective </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> days following receipt of SEC Form BDW, unless the division notifies the applicant otherwise.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">f</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Intrastate broker-dealers:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            Every broker-dealer registered or required to be registered under SDCL chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, whose business is exclusively intrastate, who does not make use of any facility of a national securities exchange and who is not registered under </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">15 U.S.C. </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">§ 78o (January 2, 2001)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">is</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> subject to the same broker-dealer requirements as set forth above, except that an intrastate broker-dealer does not need to be a member of FINRA and those documents required to be filed with the CRD </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">must</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> be filed with the division.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    (3)  Broker-dealer agent registration, post registration, renewal</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">,</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> and withdrawal requirements</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">a</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Broker-dealer agent registration:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            To register as a broker-dealer agent, the applicant or the sponsoring broker-dealer must file with the CRD the following, in addition to any information required by FINRA, the CRD, or the SEC:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    FINRA Form U-4 (Uniform Application for Securities Industry Registration or Transfer);</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    Proof that the applicant passed the Series 63 examination (Uniform Securities Agent State Law Examination) or the Series 66 examination (Uniform Combined State Law Exam) which are administered by FINRA, and any other exams required by the SEC or FINRA; and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (iii)    The registration fee pursuant to SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(b) and in the form of payment prescribed by the CRD.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            A broker-dealer agent must re-take and pass the Series 63 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> or the Series 66 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> if the agent's most recent registration terminated two or more years before the date of receipt by the division of a new application.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            A broker-dealer agent, who has been registered as a broker-dealer agent in any jurisdiction in the United States prior to January 1, 1989, is not required to pass the Series 63 examination provided there has never been a lapse of registration of more than two years. The director </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">of the division </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">may require additional examinations for any individual found to have violated any state or federal securities law.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    An out-of-state agent must be registered or exempt from registration in the agent's home state as a precondition of being considered for registration in South Dakota. The burden of proof for claiming an exemption is on the agent.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            A certificate of registration will not be issued. Proof of status is available from the CRD.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">b</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Broker-dealer agent post registration:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    The applicant must file amendments to FINRA Form U-4 in accordance with the instructions on this form with the CRD only.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">c</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Broker-dealer agent renewal requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    All registrations expire on December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> of each year.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    To renew registration, the applicant must submit to the CRD the renewal fee pursuant to SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(b) before December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">d</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Broker-dealer agent withdrawal requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    To withdraw a registration or application, the applicant must file</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> a</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> FINRA Form U-5 (Uniform Termination Notice for Securities Industry Registration)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> with the CRD</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    A withdrawal is effective </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> days following receipt of FINRA Form U-5, unless the division notifies the applicant otherwise.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">e</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Dual registration:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            A dual registration may be allowed by the director </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">of the division </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">if:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    The applicant requests a dual registration in writing to the division </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">that</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> identifies the broker-dealers with which the applicant will associate and set</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">s</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> forth the reasons for the dual registration;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    Both broker-dealers with which applicant intends to associate represent in writing to the division that each assumes full responsibility for </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">the </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">applicant at all times; and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (iii)    The applicant discloses the dual registration to each client.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (f)  Broker-dealer agent reentry:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)  </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">Any individual who is not registered as an agent in any state for more than two years but less than five years, and who has elected to participate in the FINRA Maintaining Qualifications Program pursuant to </span><a id="_Hlk173849797" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000004"></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">FINRA Rule 1240(c) (April 30, 2024)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, whose appropriate FINRA qualifying examinations remain valid because of effective participation in the Maintaining Qualifications Program, is deemed in compliance with the Series 63 examination or the Series 66 examination requirements of </span><a id="_Hlk165467665" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000004"></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">subsection </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:08:03"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">20:06:08:03</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">:01(3)(a)(ii), </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">as long as the individual elects to participate in the NASAA Examination Validity Extension Program within two years of agent registration termination</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)  </span><a id="_Hlk173855661" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000004"></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">Any individual who has not been registered as an agent in any state for more than two years but less than five years, who has elected to participate in the FINRA Maintaining Qualifications program pursuant to FINRA Rule 1240(c) (April 30, 2024), and who is participating in the FINRA Maintaining Qualifications Program, is deemed in compliance with the </span><a id="_Hlk173855902" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000004"></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">additional SEC and FINRA </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination requirements of subsection </span><a href="https://sdlegislature.gov/Rules?Rule=20:06:08:03"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">20:06:08:03</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">:01(3)(a)(ii)</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">; and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (iii)  </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">Successful participation in the FINRA Maintaining Qualifications Program may not extend the Series 66 examination for purposes of investment adviser representative registration</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">g</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Agents of an </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">inter</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">state </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">b</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">roker-</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">d</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">ealer:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            Every agent of a broker-dealer registered or required to be registered under SDCL chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> whose business is exclusively intrastate, who does not make use of any facility of a national securities exchange</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">,</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> and who is not registered under </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">15 U.S.C. </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">§</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> 78o (January 2, 2001)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, is subject to the same broker-dealer agent requirements as set forth in § </span><a href="https://sdlegislature.gov/Rules?Rule=20:08:03:01"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">20:08:03:01</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, except that an agent of an intrastate broker-dealer does not need to be a member of FINRA and those documents required to be filed with the CRD </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">must</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> be filed with the division.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    (4)  Agent of the issuer registration requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">a</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  To register as an agent of the issuer, the applicant or the sponsoring issuer must file with the division the following:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    FINRA Form U-4 with original signatures;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    Proof that the applicant passed the Series 63 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> or the Series 66 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">; and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (iii)    The fee as set forth in SDCL </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">subdivision </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(b).</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            An agent of the issuer must re-take and pass the Series 63 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> or the Series 66 </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">examination</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> if the agent's most recent registration terminated two or more years before the date of receipt by the division of a new application.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            A certificate of registration will not be issued.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">b</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Agent of the issuer post registration:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    An agent of the issuer must promptly file with the division amendments to FINRA Form U-4 or any other information </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">that</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> materially changes the information on file with the division.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">c</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Registration renewals for agents of the issuer:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            To renew a registration, the applicant must file the following with the division before December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> of each year;</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    FINRA Form U-4 with original signatures; and</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    The fee as set forth in SDCL </span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">subdivision </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(b), to be submitted to the </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">division</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            All registrations expire on December </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty-first</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> of each year.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        (</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">d</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">)  Registration withdrawal requirements:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (i)    To withdraw a registration, the applicant must file a written request for withdrawal with the Division on Form U-5.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (ii)    A withdrawal is effective </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">thirty</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> days following receipt of the written request for withdrawal, unless the division notifies the applicant otherwise.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">            (iii)    If an agent of the issuer applies for registration with two or more issuers in a twelve-month period, the division may deem the agent to be a broker-dealer and require the agent to register as a broker-dealer.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    (5)  Registration transfers:</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">        A broker-dealer or broker-dealer agent may transfer a registration by following CRD procedures. The division recognizes and participates in the NASAA/CRD Temporary Agent Transfer (TAT) program and will honor transfers effected through TAT procedures.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000001">Source:</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> 27 SDR 5, effective July 31, 2000; 28 SDR 48, effective October 10, 2001; 30 SDR 58, effective November 5, 2003; 30 SDR 211, effective July 1, 2004; 37 SDR 112, effective December 9, 2010</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">; 44 SDR 99, effective December 11, 2017; 51 SDR 25, effective September 10, 2024.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000001">General Authority:</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-605"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-605</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(a).</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">    </span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000001">Law Implemented:</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-401"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-401</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-402"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-402</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-406"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-406</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-408"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-408</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-409"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-409</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-410"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-410</span></a><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-412"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-412</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(e)</span><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=47-31B-605"><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0-000003">47-31B-605</span></a><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">(b)</span><span class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeC0">.</span></p><p dir="ltr" class="sb81d33ee-981e-435a-a3f4-b76e9645d1aeP0"><span xml:space="preserve" class="sb81d33ee-981e-435a-a3f4-b76e9645d1ae000002"> </span></p></div></body></html>