The Commission may, by order entered after a hearing on notice duly served onthe defendant not less than thirty days before the date of the hearing,revoke the registration of a broker-dealer, investment advisor, investmentadvisor representative or agent, or refuse to renew a registration if anapplication for renewal has been or is to be filed, if it finds that such anorder is in the public interest and that such broker-dealer, investmentadvisor or any partner, officer or director of such broker-dealer orinvestment advisor, or any person occupying a similar status or performingsimilar functions, or any person directly or indirectly controlling orcontrolled by such broker-dealer or investment advisor or that such agent orinvestment advisor representative:
1. Has engaged in any fraudulent transaction;
2. Is insolvent, or in danger of becoming insolvent, either in the sense thathis liabilities exceed his assets or in the sense that he cannot meet hisobligations as they mature;
3. Is a person for whom a conservator or guardian has been appointed and isacting;
4. Has been convicted, within or without this Commonwealth, of anymisdemeanor involving a security or any aspect of the securities orinvestment advisory business or any felony;
5. Has failed to furnish information or records requested by the Commissionconcerning his conduct of the securities or investment advisory business; or
6. [Repealed.]
7. Has failed to conduct his securities or investment advisory business inaccordance with the rules of the Commission.
(1956, c. 428; 1974, c. 479; 1981, c. 244; 1987, c. 678; 1997, c. 921.)
The Commission may, by order entered after a hearing on notice duly served onthe defendant not less than thirty days before the date of the hearing,revoke the registration of a broker-dealer, investment advisor, investmentadvisor representative or agent, or refuse to renew a registration if anapplication for renewal has been or is to be filed, if it finds that such anorder is in the public interest and that such broker-dealer, investmentadvisor or any partner, officer or director of such broker-dealer orinvestment advisor, or any person occupying a similar status or performingsimilar functions, or any person directly or indirectly controlling orcontrolled by such broker-dealer or investment advisor or that such agent orinvestment advisor representative:
1. Has engaged in any fraudulent transaction;
2. Is insolvent, or in danger of becoming insolvent, either in the sense thathis liabilities exceed his assets or in the sense that he cannot meet hisobligations as they mature;
3. Is a person for whom a conservator or guardian has been appointed and isacting;
4. Has been convicted, within or without this Commonwealth, of anymisdemeanor involving a security or any aspect of the securities orinvestment advisory business or any felony;
5. Has failed to furnish information or records requested by the Commissionconcerning his conduct of the securities or investment advisory business; or
6. [Repealed.]
7. Has failed to conduct his securities or investment advisory business inaccordance with the rules of the Commission.
(1956, c. 428; 1974, c. 479; 1981, c. 244; 1987, c. 678; 1997, c. 921.)
The Commission may, by order entered after a hearing on notice duly served onthe defendant not less than thirty days before the date of the hearing,revoke the registration of a broker-dealer, investment advisor, investmentadvisor representative or agent, or refuse to renew a registration if anapplication for renewal has been or is to be filed, if it finds that such anorder is in the public interest and that such broker-dealer, investmentadvisor or any partner, officer or director of such broker-dealer orinvestment advisor, or any person occupying a similar status or performingsimilar functions, or any person directly or indirectly controlling orcontrolled by such broker-dealer or investment advisor or that such agent orinvestment advisor representative:
1. Has engaged in any fraudulent transaction;
2. Is insolvent, or in danger of becoming insolvent, either in the sense thathis liabilities exceed his assets or in the sense that he cannot meet hisobligations as they mature;
3. Is a person for whom a conservator or guardian has been appointed and isacting;
4. Has been convicted, within or without this Commonwealth, of anymisdemeanor involving a security or any aspect of the securities orinvestment advisory business or any felony;
5. Has failed to furnish information or records requested by the Commissionconcerning his conduct of the securities or investment advisory business; or
6. [Repealed.]
7. Has failed to conduct his securities or investment advisory business inaccordance with the rules of the Commission.
(1956, c. 428; 1974, c. 479; 1981, c. 244; 1987, c. 678; 1997, c. 921.)
