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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 26. INSURANCE, SECURITIES, AND BANKING |
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SubTilte 26-B. SECURITIES |
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Chapter 26-B1. BROKER-DEALERS, AGENTS, INVESTMENT ADVISERS, AND INVESTMENT ADVISER REPRESENTATIVES |
Section 26-B124. EXAMINATION PROCEDURES AND FEES
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124.1The Commissioner may make a periodic examination of broker-dealers and may charge a reasonable fee for the examination, consistent with these regulations.
124.2When making any examination under these regulations, the Commissioner may retain or require the examinee to retain independent accountants, auditors, examiners, and other persons to perform the examination on behalf of the Commissioner.
124.3The Commissioner may cooperate with national securities associations and national and regional securities exchanges, and with the Securities and Exchange Commission in administering examinations of any broker-dealer.
124.4The fee for an on-site examination of a broker-dealer shall be the actual amount of the compensation paid to each employee for their time, including the preparation of any written report of the examination, audit, or investigation that reasonably be needed in the discharge of the Commissioner's duties.
124.5The Commissioner may charge a reasonable fee in excess of the amount in § 124.4 involving an examination of a broker-dealer if extenuating or unforeseen circumstances arise during the course of the examination.
124.6The Commissioner may charge a reasonable fee in excess of the amount in § 124.4 to defray the cost of any examination of a broker-dealer, which involves out-of-town travel.