HI SB743

Each activity desk must designate a principal with direct management and supervision responsibility, including compliance with sections 468M-9 and 468M-10.

Activity desk principals must be a corporate officer, director, partner, sole proprietor, or individual with ownership interest who serves as a signatory on the activity desk's client trust account.

Activity desks must notify the Department of Commerce and Consumer Affairs in writing within ten days of any change in the designated principal.

Activity desks must disclose the activity desk principal's name and contact information to client trust account beneficiaries upon request.

Current registrants registered before July 1, 2015 must disclose their designated principal by their registration renewal date of December 31, 2017; the Act takes effect July 1, 2015.