Nevada § 90.430 - Denial, suspension, revocation, fine or condition on grounds of lack of qualification

§ 90.430. Denial, suspension, revocation, fine or condition on grounds of lack of qualification

The Administrator's determination that an applicant or licensed person lacks qualification

under NRS 90.420 is limited by the following provisions: 1. The Administrator may not enter an order against a broker-dealer because of the

lack of qualification of: (a) A person other than the broker-dealer if the broker-dealer is a natural person;

or (b) A sales representative of the broker-dealer. 2. The Administrator may not enter an order against an investment adviser because

of the lack of qualification of: (a) A person other than the investment adviser, if the investment adviser is a natural

person; or (b) Any representative of an investment adviser or other person who represents the

investment adviser in doing an act that makes the person an investment adviser. 3. The Administrator may not enter an order solely on the basis of lack of experience

if the applicant or registrant is qualified by training or knowledge, or both. 4. The Administrator shall consider that: (a) A sales representative who will work under the supervision of a licensed broker-dealer

need not have the same qualifications as a broker-dealer; and (b) A representative of an investment adviser who will work under the supervision

of a licensed investment adviser need not have the same qualifications as an investment

adviser. 5. The Administrator shall consider that an investment adviser is not necessarily

qualified solely on the basis of experience as a broker-dealer or sales representative.