<html> <head> <title>Rule 20:08:03:08 Written supervisory procedures.</title> <META NAME="Keywords" Content="Administrative Rules 20:08:03:08"> <META NAME="Description" Content="Administrative Rules 20:08:03:08 Written supervisory procedures."> <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>20:08:03:08.&nbsp;&nbsp;Written supervisory procedures.</b> Each broker-dealer shall establish and keep current a set of written supervisory procedures and a system for applying such procedures, which may be reasonably expected to prevent and detect any violations of SDCL chapter <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B">47-31B</A> and the rules and orders thereunder. The procedures shall include the designation by name or title of a number of supervisory employees reasonable in relation to the number of its registered agents, offices, and transactions in this state. A complete set of the procedures and system for applying them shall be kept and maintained at every office.</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></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-411(c)">47-31B-411(c).</A></p> </div> </body> </html>