 |
Oklahoma Administrative Code (Last Updated: March 11, 2021) |
 |
TITLE 660. Department of Securities |
|
Chapter 11. Oklahoma Uniform Securities Act of 2004 |
|
Subchapter 5. Broker-Dealers and Agents |
|
Part 3. LICENSING PROCEDURES |
SECTION 660:11-5-14. Agent termination
Latest version.
- (a) Filing requirement. Termination notice pursuant to the requirements of Section 1-408.A of the Securities Act shall be given by filing within thirty calendar (30) days of termination, a completed Uniform Termination Notice For Securities Industry Registration, Form U-5. The Form U-5 for an agent terminating registration with a FINRA member shall be filed with the CRD. The Form U-5 for agents terminating registration with a non-FINRA broker-dealer shall be filed with the Department.(b) Responsibility for filing. A completed Form U-5 signed by the employer will be accepted as fulfilling the statutory requirements of both parties. Upon verification that the Form U-5 has not been filed by the broker-dealer, the agent shall notify the Department in writing of said termination.(c) Effect of failure to file. In the event of termination, the filing of a future application for registration shall not be considered complete until compliance with the termination notice requirements of Section 1-408.A and this section.