Laws and Rules
The law and rules governing broker-dealers and investment advisers in California are found under Title 4 of the California Corporations Code (“Code”) and Title 10, Chapter 3 of the California Code of Regulations (“CCR”), respectively. The sections of the law that relate specifically to broker-dealers and investment advisers begin at Section 25200. The other sections of the law relate to general securities law. The rules for broker-dealers and investment advisers begin at Section 260.200.
All applicants should obtain copies of the laws and rules. Persons issued certificates are charged with the responsibility of familiarizing themselves with the applicable sections of the law and rules. The California Corporations Code and California Code of Regulations may be found through links on the Department of Business Oversight (“Department”) web site. The links arewww.leginfo.ca.gov/calaw.html and http://ccr.oal.ca.gov/, respectively. The rules are also available at the offices of County Clerks or County Law Libraries and 100 state depository libraries. It is available in loose-leaf form from the publisher, West Group. For information, contact West Group at 1-800-888-3600 or visit their web site at http://west.thomson.com.
On the left hand side, click on the box next to Corporations Code and then click on the search button or hit the Enter key.
Scroll down to Title 4. Securities, Part 3. Regulation and Notice Filing Requirements of Agents, Broker-Dealers, Investment Adviser Representatives, and Investment Advisers.
The sections of the law that relate specifically to broker-dealers and investment advisers begin at Section 25200.
On the left hand side select the search parameter that best fits your criteria.
If you know the specific section you are looking for select Search for a Specific Regulatory Section and enter the Section Number (i.e. 260.236) in the second box entitled Section and click on the Search button.
If you do not know the specific section you are looking for select Search for Words and enter your search terms (i.e. “investment adviser representatives”) in the box and click on the Search button. To limit the search results, whenever possible, use double quotes around the search term.
You can also search for a specific section by using the List of CCR Titles. After clicking on List of CCR Titles open Title 10. Investment, then open Chapter 3. Commissioner of Business Oversight by clicking on the + button and then open Subchapter 2. Corporate Securities by clicking on the + button. The rules for broker-dealers and investment advisers are found in Articles 8 thru 11.