Emergency Order: Temporary Relief for Registrants Affected by the COVID-19 Outbreak

The record

Jurisdiction

West Virginia; Securities Commission, Office of the State Auditor (State securities regulator) · West Virginia

Level

Sector regulator

Authority

W. Va. Code § 32-4-406 (rules and orders)

Issued

2020-03-23 Mar. 23, 2020

Effective

2020-03-23

End

Until further order (temporary relief during the outbreak) (read as 2020-09-30)

In force

Mar. 23, 2020 to Sept. 30, 2020

Quarters

2020 Q22020 Q3

2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3

Limitation types

Telework mandateOther

Addressees

• broker-dealers, state-registered investment advisers, federal covered investment advisers and their registered agents and representatives

Functions reached

• WM broker-dealers and investment advisers (personnel working from homes and temporary offices; branch registration suspended)
• OP office premises
• HR registration

Collection

State insurance and banking regulators AGY-ST-INSURANCE-BANKING

Operative words

[Financial professionals displaced by the outbreak are] temporarily exempted from the registration and filing requirements of the West Virginia Securities Act, West Virginia Code § 32-2-202 and related provisions in the following circumstances: 1. [The financial professional is displaced and working from a location outside the jurisdiction in] which he/she/it is currently registered as a response to the COVID-19 outbreak; 2. The financial professional was properly registered and/or notice filed with all [required regulators as of March 1, 2020]... 2. Open and maintain a temporary branch office or office of supervisory jurisdiction in West Virginia that was not in operation on March 1, 2020, provided that the financial professional informs the West [Virginia Securities Commission]... [and] is also relieved from the requirement to maintain updated Form U4 information regarding the office of [employment].

Enforcement

Notes