DISHONEST AND UNETHICAL BUSINESS PRACTICES

016 DISHONEST AND UNETHICAL BUSINESS PRACTICES. 016.01 The conduct set forth in 48 NAC 12.002 l constitutes “an act, practice or course of business which operates, or would operate, as a fraud or deceit upon another person” by an issuer-dealer or its agent for purposes of Section 8-1102(1)(c) of the Act. 016.02 The conduct set forth in 48 NAC 12.003 constitutes “dishonest or unethical business practices” by an issuer-dealer or its agent for purposes of Section 8-1103(9)(a)(vii) of the Act. 016.03 The delineation of certain acts and practices is not intended to be all inclusive. Acts or practices not enumerated in 48 NAC 12.002 may also be deemed fraudulent and dishonest.