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Connecticut Form U-5 (includes Instructions and Definition of Terms)

Connecticut Form U-5 (includes Instructions and Definition of Terms)

Name: Connecticut Form U-5 (includes Instructions and Definition of Terms)
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.57 (417 reviews)

Category:

Connecticut Secretary of State - Blue Sky - Securities

State:

Connecticut

Control #:

CT-U5-TERM

Format:

Instant download

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Description

Form U-5 (includes Instructions and Definition of Terms) Connecticut Form U-5 (includes Instructions and Definition of Terms) is a form used to report the termination of a securities representative from a broker/dealer firm in the state of Connecticut. The form is required to be filed with the Connecticut Department of Banking’s Securities and Business Investments Division (SBI). There are two types of Connecticut Form U-5: Form U-5A and Form U-5B. Form U-5A is used to report the termination of a registered representative, while Form U-5B is used to report the termination of a broker/dealer. Instructions for completing Connecticut Form U-5 include providing the name and registration number of the registered representative, the date of termination, the reason for termination, and the date of the most recent customer complaints report. Definition of Terms: Registered Representative — A person who is registered with the state of Connecticut as a broker/dealer and is authorized to buy and sell securities. Broker/Dealer — A firm that is registered with the state of Connecticut that is authorized to buy and sell securities. Termination — The end of a securities representative’s or broker/dealer’s registration. Customer Complaints Report — A report filed with the Connecticut Department of Banking listing all customer complaints made regarding the registered representative or broker/dealer.

Connecticut Form U-5 (includes Instructions and Definition of Terms) is a form used to report the termination of a securities representative from a broker/dealer firm in the state of Connecticut. The form is required to be filed with the Connecticut Department of Banking’s Securities and Business Investments Division (SBI). There are two types of Connecticut Form U-5: Form U-5A and Form U-5B. Form U-5A is used to report the termination of a registered representative, while Form U-5B is used to report the termination of a broker/dealer. Instructions for completing Connecticut Form U-5 include providing the name and registration number of the registered representative, the date of termination, the reason for termination, and the date of the most recent customer complaints report. Definition of Terms: Registered Representative — A person who is registered with the state of Connecticut as a broker/dealer and is authorized to buy and sell securities. Broker/Dealer — A firm that is registered with the state of Connecticut that is authorized to buy and sell securities. Termination — The end of a securities representative’s or broker/dealer’s registration. Customer Complaints Report — A report filed with the Connecticut Department of Banking listing all customer complaints made regarding the registered representative or broker/dealer.

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How to fill out Connecticut Form U-5 (includes Instructions And Definition Of Terms)?

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FAQ

Form U5 is the Uniform Termination Form, which documents a person's termination from his last employing broker-dealer. This form contains details of relevant events that occurred while employed by the previous firm, as well as any disciplinary actions that may have resulted.

Whenever an involuntary termination occurs, the reporting firm is required to provide detailed information surrounding the termination. Form U5 must be filed within 30-days of an associated person's termination.

Form U5 requires firms to indicate whether a termination was full, and if so, give a Reason for Termination (?Discharged,? ?Other,? ?Permitted to Resign,? ?Deceased,? or ?Voluntary?), and a Termination Explanation if the reason for termination was ?Permitted to Resign,? ?Discharged,? or ?Other.?

The Form U5 is the Uniform Termination Notice for Securities Industry Registration. Broker-dealers, investment advisers, or issuers of securities must use this form to terminate the registration of an individual in the appropriate jurisdictions and/or self- regulatory organizations ("SROs").

Although there are different types of Form U5 termination filings, such as reporting full or partial terminations or amending past Forms U5, when it comes to full terminations, there are really only three causes: death, being fired and voluntarily resigning.

Firms can access their pending U5 filings through the Site Map or the Forms tab. Enter the individual's CRD Number or SSN and click Search. NOTE: To view filings that were created by you, select Filings initiated by current user only. Click the Filing ID hyperlink to continue working on the filing.

More info

A Form U5 must be filed when an individual leaves a firm for any reason. Items 20 - 27 — The following definitions apply to terms that are italicized il this form.AFFILIATED means under common ownership or control. Items 20 - 27 — FULL TERMINATION means the termination of registration with all self-regulatory organizations and all jurisdictions. Items 17 - 23 — The Form U5 is the Uniform Termination Notice for Securities Industry Registration. The Form U5 is used for any termination: full, partial, or an amendment. FULL TERMINATION means the termination of registration with all self-regulatory organizations and all jurisdictions. Through the filing of a FINRA Form U4, employees agree to settle disputes with their employers through the FINRA arbitration process. States and the treaty country to properly complete Form 8233. States and the treaty country to properly complete Form 8233.

Connecticut Form U-5 (includes Instructions and Definition of Terms)

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