General Rules and Regulations
promulgated
under the
Securities Exchange Act of 1934
Rule 15b1-3 -- Registration of Successor to Registered Broker or Dealer
In the event that a broker or dealer succeeds to
and continues the business of a broker or dealer registered pursuant to Section
15(b) of the Act, the registration of the predecessor shall be deemed to remain
effective as the registration of the successor if the successor, within 30 days
after such succession, files an application for registration on Form BD, and the
predecessor files a notice of withdrawal from registration on Form BDW; Provided,
however, That the registration of the predecessor broker or dealer will cease
to be effective as the registration of the successor broker or dealer 45 days
after the application for registration on Form BD is filed by such successor.
Notwithstanding paragraph (a) of this section, if
a broker or dealer succeeds to and continues the business of a registered predecessor
broker or dealer, and the succession is based solely on a change in the predecessor's
date or state of incorporation, form of organization, or composition of a partnership,
the successor may, within 30 days after the succession, amend the registration
of the predecessor broker or dealer on Form BD to reflect these changes. This
amendment shall be deemed an application for registration filed by the predecessor
and adopted by the successor.
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