Administrative Code

Virginia Administrative Code
Title 21. Securities and Retail Franchising
12/6/2019

Agency 5. State Corporation Commission, Division of Securities and Retail Franchising

Preface
Agency Summary
Chapter 10
General Administration - Securities ActRead all
Section 10
Authority
Section 20
Classification of Regulatory Standards
Section 30
Application
Section 40
Definitions
FORMS
Forms (21VAC5-10)
Chapter 20
Broker-Dealers, Broker-Dealer Agents and Agents of the IssuerRead all
Section 10
Application for Registration As a Broker-Dealer
Section 20
Expiration
Section 30
Renewals
Section 40
Updates and Amendments
Section 50
Termination of Registration
Section 60
Broker-Dealer Merger or Consolidation
Section 65
Broker-Dealer Records Retention Requirements
Section 70
Examinations/Qualifications
Section 80
Financial Statements and Reports
Section 85
Limited Canadian Broker-Dealer Registration
Section 90
Application for Registration As a Broker-Dealer Agent
Section 95
Employment of an Agent by More Than One Broker-Dealer
Section 100
Expiration
Section 110
Renewals
Section 120
Updates and Amendments
Section 130
Termination of Registration
Section 135
Continuing Commission by Retiring Agents
Section 140
Changing Connection from One Broker-Dealer to Another
Section 150
Examination/Qualification
Section 155
Limited Canadian Broker-Dealer Agent Registration
Section 160
Application for Registration As an Agent of the Issuer
Section 170
Expiration
Section 180
Renewals
Section 190
Updates and Amendments
Section 200
Termination of Registration
Section 210
Changing Connection from One Issuer to Another
Section 220
Examination/Qualification; Waiver of Examination Requirement
Section 225
Inspection of Records
Section 230
Notice of Civil, Criminal, Administrative or Arbitrational Action
Section 240
Books and Records of Broker-Dealers
Section 250
[Repealed]
Section 260
Supervision of Agents
Section 270
[Repealed]
Section 280
Prohibited Business Conduct
Section 285
Customer Notice for Designated Securities
Section 290
Financial Responsibility
Section 300
Net Worth
Section 310
Reserve Requirements and Custody of Customer Funds and Securities
Section 320
Clerical or Ministerial Services
Section 330
Model Rules for Sales of Securities at Financial Institutions
FORMS
Forms (21VAC5-20)
DIBR
Documents Incorporated by Reference (21VAC5-20)
Chapter 30
Securities RegistrationRead all
Section 10
Definitions
Section 20
Requirements for Registrations Filed Pursuant to § 13.1-509 of the Act
Section 30
[Repealed]
Section 40
Requirements for Registrations Filed Pursuant to §§ 13.1-508 and 13.1-510 of the Code of Virginia
Section 50
Requirements for Registration Statements Relating to Nonissuer Distributions
Section 60
[Repealed]
Section 70
[Repealed]
Section 80
Adoption of North American Securities Administration Association, Inc. Statements of Policy
Section 90
[Repealed]
FORMS
Forms (21VAC5-30)
DIBR
Documents Incorporated by Reference (21VAC5-30)
Chapter 40
Exempt Securities and TransactionsRead all
Section 10
Commercial Paper
Section 20
Exchange and Automated Quotations System
Section 30
[Repealed]
Section 40
[Repealed]
Section 50
Foreign Issuer
Section 60
[Repealed]
Section 70
Solicitations of Interest Prior to the Filing of a Registration Statement
Section 80
[Repealed]
Section 90
[Repealed]
Section 100
Domestic Issuer Limited Transactional Exemption
Section 110
Internet Offer Transactional Exemption
Section 120
[Repealed]
Section 130
Calculation of the Number of Purchasers under § 13.1-514 B 7 B
Section 140
Accredited Investor Exemption
Section 150
Employee Benefit Plans; Eligible Participants
Section 160
Canadian Securities
Section 170
Offerings Conducted Pursuant to § 13.1-514 B 7 a; Broker-Dealer Participation and Solicitation
Section 180
Certain Options, Warrants, and Rights
Section 190
Intrastate Crowdfunding Exemption
FORMS
Forms (21VAC5-40)
Chapter 45
Federal Covered SecuritiesRead all
Section 10
Investment Company Notice Filing Requirements
Section 20
Offerings Conducted Pursuant to Rule 506 of Federal Regulation D (17 CFR 230.506): Filing Requirements and Issuer-Agent Exemption
Section 30
Federal Regulation a Tier 2 Offerings
Section 40
Federal Crowdfunding Offerings
FORMS
Forms (21VAC5-45)
Chapter 50
Registration Regulations [Repealed]Read all
Section 10
[Repealed]
Chapter 60
ReportsRead all
Section 10
Filing of Amended Prospectus Required
Section 20
Required Reports of Securities Registrants
Chapter 70
Options and Warrants [Repealed]Read all
Section 10
[Repealed]
Chapter 80
Investment AdvisorsRead all
Section 10
Application for Registration As an Investment Advisor and Notice Filing As a Federal Covered Advisor
Section 20
Expiration
Section 30
Renewals
Section 40
Updates and Amendments
Section 50
Termination of Registration and Notice Filings
Section 60
Investment Advisor Merger or Consolidation
Section 65
Investment Advisor Records Retention Requirements
Section 70
Application for Registration As an Investment Advisor Representative
Section 80
Expiration
Section 90
Renewals
Section 100
Updates and Amendments
Section 110
Termination of Registration
Section 120
Changing a Connection from One Investment Advisor or Federal Covered Advisor to Another
Section 130
Examination/Qualification
Section 140
[Repealed]
Section 145
[Repealed]
Section 146
Custody of Client Funds or Securities by Investment Advisors
Section 150
Agency Cross Transactions
Section 160
Recordkeeping Requirements for Investment Advisors
Section 170
Supervision of Investment Advisor Representatives
Section 180
Requirements for Surety Bonds and Financial Reporting
Section 190
Disclosure Requirements
Section 200
Dishonest or Unethical Practices
Section 210
Exclusions from Definition of "Investment Advisor" and "Federal Covered Advisor"
Section 215
Exemption for Certain Private Advisors
Section 220
Performance Based Fees
Section 230
Clarification of Investment Advisor Representative
Section 240
Investment Advisor Representative Registration on Behalf of Other Investment Advisors or Federal Covered Advisors
Section 250
Employment of Investment Advisor Representative by More Than One Investment Advisor or Federal Covered Advisor
Section 260
Information Security and Privacy
FORMS
Forms (21VAC5-80)
DIBR
Documents Incorporated by Reference (21VAC5-80)
Chapter 85
Forms - Securities Act [Repealed]Read all
Section 10
[Repealed]
Chapter 90
Virginia State Corporation Commission Virginia Retail Franchising Act Rules and Forms [Repealed]Read all
Section 10
[Repealed]
Chapter 100
Disclosure of Information or Documents by CommissionRead all
Section 10
Disclosure of Confidential Information
FORMS
Forms (21VAC5-100)
Chapter 110
Retail Franchising Act RulesRead all
Section 10
Definitions
Section 20
Preliminary Statement
Section 30
Registration Application; Documents to File; Interim Financial Statements
Section 40
Pre-Effective and Post-Effective Amendments to the Registration
Section 50
Expiration; Application to Renew the Registration; Interim Financial Statements
Section 55
The Franchise Disclosure Document
Section 60
Automatic Effectiveness (Optional)
Section 65
Escrow and Deferral
Section 70
Consent to Service of Process
Section 75
Exemptions
Section 80
General Requirements for Preparation of Disclosure Documents; Master Franchises; Electronic Disclosure
Section 85
Disclosure of Confidential Information
Section 90
[Repealed]
Section 95
Requirements for Franchise Disclosure Document Preparation
FORMS
Forms (21VAC5-110)
Chapter 120
Virginia Trademark and Service Mark ActRead all
Section 10
Definitions
Section 20
Authority; Severability
Section 30
Classification of Regulatory Standards
Section 40
Application of Regulations
Section 50
Application for Registration
Section 60
Expiration
Section 70
Renewals
Section 80
Assignments and Name Change
Section 90
Cancellation Procedures
Section 100
Classification of Goods and Services
Section 110
[Repealed]
FORMS
Forms (21VAC5-120)


Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.