|SB 1055||Requires sales representatives to disclose certain information regarding security brokers|
|LR Number:||4495S.04I||Fiscal Note:||4495-04|
|Committee:||Financial and Governmental Organization|
|Last Action:||03/06/00 - Referred S Financial & Governmental Organizations||Journal page:|
|Effective Date:||August 28, 2000|
SB 1055 - Out-of-state sales representatives are required to disclose to potential customers whether the broker-dealer they represent has been sanctioned or has had 3 or more customer complaints filed against it in the preceding three years.
This act also requires the Secretary of State to design an
online system which will allows individuals to access the central
registration depository database (a computer system operated by
the National Association of Securities Dealers which maintains
registration information on broker-dealers) and the National
Association of Securities Dealer's web site through the Secretary
of State's Internet site.