Section 602.022. Denial for abandonment

The Commission may order an application for registration of securities or an application for registration as a broker-dealer, investment adviser, agent or investment adviser representative denied upon the failure of the applicant, within 60 days after written notice warning the applicant that an application will be denied and deemed abandoned, to respond to any request for additional information required under the act or the provisions thereunder or otherwise to complete the showing required for action upon the application; or the applicant may with the consent of the Commission withdraw the application. Upon denial for abandonment, there shall be no refund of any filing fee paid prior to the date of abandonment.

The provisions of this § 602.022 adopted May 10, 1974, effective May 11, 1974, 4 Pa.B. 916; amended December 8, 2006, effective December 9, 2006, 36 Pa.B. 7456; transferred and renumbered from 64 Pa. Code § 602.022, December 14, 2012, effective December 15, 2012, 42 Pa.B. 7533. Immediately preceding text appears at serial pages (324453) to (324454).

Notation

Authority

The provisions of this § 602.022 amended under sections 203(d), (o) and (p), 205, 206, 301, 303, 504, 603(a) and 609 of the Pennsylvania Securities Act of 1972 (70 P. S. § § 1-203(d), (o) and (p), 1-205, 1-206, 1-301, 1-303, 1-504, 1-603(a) and 1-609); and the Takeover Disclosure Law (70 P. S. § 74).