Code of Federal Regulations · Section
§ 240.15Bc4-1 — bc4-1 Persons Associated With Municipal Advisors
17 C.F.R. § 240.15Bc4-1
A person associated, seeking to become associated, or, at the time of the alleged misconduct, associated or seeking to become associated with a municipal advisor, shall be subject to a Commission order that censures or places limitations on the activities or functions of such person, or suspends for a period not exceeding twelve months or bars such person from being associated with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization, if the Commission finds, on the record after notice and opportunity for hearing, that such censure, placing of limitations, suspension, or bar is in the public interest and that such person has committed any act, or is subject to an order or finding, enumerated in subparagraph (A), (D), (E), (H), or (G) of paragraph (4) of section 15(b) of the Act (15 U.S.C. 78o(b)(4)(A), 78o(b)(4)(D), 78o(b)(4)(E), 78o(b)(4)(H), 78o(b)(4)(G)), has been convicted of any offense specified in subparagraph (B) of such paragraph (4) (15 U.S.C. 78o(b)(4)(B)) within 10 years of the commencement of the proceedings under section 15B(c)(4) (15 U.S.C. 78o-4(c)(4)), or is enjoined from any action, conduct, or practice specified in subparagraph (C) of such paragraph (4) (15 U.S.C. 78o(b)(4)(C)). It shall be unlawful for any person as to whom an order entered pursuant to section 15B(c)(4) of the Act (15 U.S.C. 78o-4(c)(4)) or section 15B(c)(5) of the Act (15 U.S.C. 78o-4(c)(5)) suspending or barring him from being associated with a municipal advisor is in effect willfully to become, or to be, associated with a municipal advisor without the consent of the Commission, and it shall be unlawful for any municipal advisor to permit such a person to become, or remain, a person associated with it without the consent of the Commission, if such municipal advisor knew, or, in the exercise of reasonable care should have known, of such order.
Authorizing Statute
-
Records and reports15 U.S.C. § 78q
-
Registration of securities15 U.S.C. § 77f
-
Registration and regulation of brokers and dealers15 U.S.C. § 78o
-
Foreign securities exchanges15 U.S.C. § 78dd
-
Information required in registration statement15 U.S.C. § 77g
-
General provisions of a liquidation proceeding15 U.S.C. § 78fff
-
Necessity for regulation15 U.S.C. § 78b
-
Proxies15 U.S.C. § 78n
-
Classes of securities under this subchapter15 U.S.C. § 77c
-
Registration requirements for securities15 U.S.C. § 78l
-
Executive compensation and corporate governance12 U.S.C. § 5221
-
Findings and purposes12 U.S.C. § 5461
-
Creation; membership; compensation and expenses12 U.S.C. § 241
-
Short title15 U.S.C. § 78a
-
Trading by members of exchanges, brokers, and dealers15 U.S.C. § 78k
-
Manipulative and deceptive devices15 U.S.C. § 78j
-
Operations of designated financial market utilities12 U.S.C. § 5465
-
Definitions and application15 U.S.C. § 78c
-
National securities exchanges15 U.S.C. § 78f
-
Rules, regulations, and orders; annual reports15 U.S.C. § 78w
-
Comprehensive energy plan15 U.S.C. § 781
-
Transaction fees15 U.S.C. § 78ee
-
Failure of corporate officers to certify financial reports18 U.S.C. § 1350