20:08:03:09Copies of complaints to be filed with director.

A broker-dealer shall file with the director a copy of any complaint related to its business transactions or operations in this state, which names the broker-dealer or any of its partners, officers, or agents as defendants in a civil or criminal proceeding or in an administrative or disciplinary proceeding by a public or private regulatory agency, within 20 days after the complaint is served on the broker-dealer. The broker-dealer shall file with the director a copy of any answer to the complaint filed by the broker-dealer within 10 days after it is filed. The broker-dealer shall file with the director a copy of any decision, order, or sanction made concerning the proceeding within 20 days after the decision, order, or sanction is entered.

Source: 27 SDR 5, effective July 31, 2000; 30 SDR 211, effective July 1, 2004.