Missouri Revised Statutes













Chapter 409

Regulation of Securities

←409.04-406

Section 409.4-407.1

409.04-408→

August 28, 2015

Succession and change in registration of broker-dealer or investment adviser.

409.4-407. (a) A broker-dealer or investment adviser may succeed to the

current registration of another broker-dealer or investment adviser or a

notice filing of a federal covered investment adviser, and a federal covered

investment adviser may succeed to the current registration of an investment

adviser or notice filing of another federal covered investment adviser, by

filing as a successor an application for registration pursuant to section

409.4-401 or 409.4-403 or a notice pursuant to section 409.4-405 for the

unexpired portion of the current registration or notice filing.



(b) A broker-dealer or investment adviser that changes its form of

organization or state of incorporation or organization may continue its

registration by filing an amendment to its registration if the change does not

involve a material change in its financial condition or management. The

amendment becomes effective when filed or on a date designated by the

registrant in its filing. The new organization is a successor to the original

registrant for the purposes of this act. If there is a material change in

financial condition or management, the broker-dealer or investment adviser

shall file a new application for registration. A predecessor registered under

this act shall stop conducting its securities business other than winding down

transactions and shall file for withdrawal of broker-dealer or investment

adviser registration within forty-five days after filing its amendment to

effect succession.



(c) A broker-dealer or investment adviser that changes its name may

continue its registration by filing an amendment to its registration. The

amendment becomes effective when filed or on a date designated by the

registrant.



(d) A change of control of a broker-dealer or investment adviser may be

made in accordance with a rule adopted or order issued under this act.



(L. 2003 H.B. 380)



Effective 9-01-03







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