New Hampshire SB 496: relative to supervision and registration requirements for associates of broker-dealers.

Bill Text

SB 496 - VERSION ADOPTED BY BOTH BODIES

2026 SESSION

 26-2061

 07/09

SENATE BILL 496

AN ACT relative to supervision and registration requirements for associates of broker-dealers.

SPONSORS: Sen. McGough, Dist 11; Sen. Pearl, Dist 17; Sen. Fenton, Dist 10; Sen. Watters, Dist 4; Sen. Gannon, Dist 23; Sen. Innis, Dist 7; Rep. Miles, Hills. 12

COMMITTEE: Commerce

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ANALYSIS

 This bill exempts certain private residences designated by broker-dealers as a supervisory location from being classified as a branch office.

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Explanation: Matter added to current law appears in bold italics.

 Matter removed from current law appears [in brackets and struckthrough.]

 Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

 26-2061

 07/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT relative to supervision and registration requirements for associates of broker-dealers.

Be it Enacted by the Senate and House of Representatives in General Court convened:

 1 Securities; Uniform Securities Act; Definitions. Amend RSA 421-B:1-102, 5(B) to read as follows:

 (B) Notwithstanding the exclusions provided in subsection (5)(A)(ii), any location that is responsible for supervising the activities of agents of the broker dealer at one or more non-branch locations of the broker-dealer shall be a branch office. Notwithstanding the foregoing, a private residence designated by a broker-dealer as a residential supervisory location in compliance with FINRA Rule 3110.19, or successor rule, shall not be deemed a branch office for purposes of this chapter. 

 2 New Subparagraph; Securities; Uniform Securities Act; Definitions. Amend RSA 421-B:1-102, 5 by inserting after subparagraph (C) the following new subparagraph:

 (D) “Residential supervisory location” means a private residence from which an associated person engages in supervisory functions that a broker-dealer has designated as a residential supervisory location in compliance with FINRA Rule 3110.19, or successor rule.

 3 Effective Date. This act shall take effect upon its passage.