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 Nevada Administrative Code (Last Updated: January 6, 2015)
 Chapter90 Securities
  SECURITIES AGENTS
  General Provisions

  NAC90.327. Unethical and dishonest practices.  

Latest version.

  •      1. A broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent who engages in any of the following acts or practices shall be deemed to have engaged in an unethical or dishonest practice within the meaning of paragraph (h) of subsection 1 of NRS 90.420:

         (a) Engaging in any act or practice enumerated in NAC 90.328.

         (b) In connection with any solicitation of the sale or purchase of a security that is not included in the Nasdaq or listed or approved for listing on a securities exchange described in paragraph (g) of subsection 2 of NRS 90.520, failing promptly to provide information requested by a customer, such as:

              (1) The current prospectus concerning an offering;

              (2) The most recently filed periodic report filed pursuant to section 13 of the Securities Exchange Act of 1934, 15 U.S.C. § 78m; or

              (3) Any information required by Rule 15c2-11 of the Securities and Exchange Commission.

         (c) Marking any order ticket or confirmation as unsolicited if the transaction is solicited.

         (d) Failing to comply with any applicable provision of:

              (1) The Conduct Rules as adopted by reference in NAC 90.321; or

              (2) Any applicable rule of conduct or ethical standard promulgated by:

                   (I) The Securities and Exchange Commission;

                   (II) A self-regulatory organization approved by the Securities and Exchange Commission; or

                   (III) Any other organization approved by the Administrator by written order.

         (e) Receiving compensation in connection with referring a customer to an unlicensed investment adviser who is required to be licensed in this State.

         2. The provisions of this section are not all-inclusive. Any act or practice not enumerated in subsection 1 may also be deemed an unethical or dishonest practice within the meaning of NRS 90.420.

     (Added to NAC by Sec’y of State, eff. 10-16-89; A 11-19-92; R016-02, 8-6-2002; R033-08, 6-17-2008)