| (a) The Agency may exceed the time periods set forth
in §104.4 or §104.5 of this title (relating to Registration
of Securities--Review of Applications and Registration of Dealers
and Investment Advisers--Review of Applications, respectively) if:
(1) the number of permits and registration authorizations
exceeds by 15% or more the number processed in the same calendar quarter
of the preceding year;
(2) the Securities and Exchange Commission, CRD, IARD,
or another public or private entity, including the applicant itself,
causes the delay;
(3) the applicant requests delay; or
(4) other conditions exist that give the Agency good
cause for exceeding the established time periods.
(b) If it appears to the applicant that for reasons
other than those set forth in subsection (a)(2) of this section, the
Agency exceeded the time periods, the applicant may appeal by filing
a complaint in writing with the Deputy Commissioner who shall provide
the staff with a copy of the complaint immediately.
(c) If the Agency's staff believes that the time periods
were not exceeded for the reasons alleged in the complaint, the staff
may file with the deputy commissioner a written response to the complaint
within five days of receipt by the Agency of the complaint.
(d) The deputy commissioner shall render a decision
and communicate it to the applicant within 10 days of receipt of the
applicant's complaint, whether or not a response is filed by the staff.
(e) If the complaint is decided in favor of the applicant,
the applicant shall receive full reimbursement of all filing fees
paid by the applicant.
(f) If the complaint is decided in favor of the staff,
the applicant may appeal the decision by requesting a hearing before
the Commissioner pursuant to the Texas Securities Act, §4007.107(a).
|
| Source Note: The provisions of this §104.6 adopted to be effective May 17, 1988, 13 TexReg 2160; amended to be effective March 14, 1999, 24 TexReg 1769; amended to be effective August 10, 2003, 28 TexReg 5991; amended to be effective June 21, 2011, 36 TexReg 3713; amended to be effective July 6, 2023, 48 TexReg 3497 |
