<html> <head> <title>Rule 20:08:03:05 Waiver of certain broker-dealer records and financial requirements.</title> <META NAME="Keywords" Content="Administrative Rules 20:08:03:05"> <META NAME="Description" Content="Administrative Rules 20:08:03:05 Waiver of certain broker-dealer records and financial requirements."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:08:03:05.&nbsp;&nbsp;Waiver of certain broker-dealer records and financial requirements.</b> Upon written application, the director may waive the requirements of §§&nbsp;20:08:03:02, 20:08:03:03, and 20:08:03:04 either unconditionally or on specified terms and conditions, any broker-dealer applicant or registrant not registered with the United States Securities and Exchange Commission or a member of a self-regulatory organization, who satisfies the director that, because of the special nature of its business, its financial position and the safeguards it has established for the protection of customer funds and securities, it is not necessary in the public interest or for the protection of investors to subject the applicant or registrant to the provisions of §§&nbsp;20:08:03:02, 20:08:03:03, and 20:08:03:04.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 27 SDR 5, effective July 31, 2000; 30 SDR 211, effective July 1, 2004.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-605(a)(1)">47-31B-605(a)(1)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-605(a)(3)">47-31B-605(a)(3).</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-103">47-31B-103</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-411">47-31B-411.</A></p> </div> </body> </html>