Regulatory Alerts2005-06-30
Added · Updated
Connecticut Securities Bulletin Summer 2005: Amendments to the Uniform Securities Act
Public Act 05-177 amends the Connecticut Uniform Securities Act, with changes taking effect on October 1, 2005. The amendments redefine "branch office" to align with NASAA, NASD, and NYSE models to facilitate electronic filing via the Central Registration Depository, while excluding specific locations such as primary residences used under strict conditions and locations used for fewer than 30 business days annually. New provisions extend administrative and civil remedies, including cease and desist orders, fines, and disgorgement, to persons who materially aid in violations or control violators. The Act also updates definitions for broker-dealers, issuers, and securities, prohibits unregistered investment adviser activity, and restricts electronic advertising for the ten-purchaser exemption.
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