Hawaii Revised Statutes 485A-507 – Qualified immunity
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Terms Used In Hawaii Revised Statutes 485A-507
- Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See Hawaii Revised Statutes 485A-102
- Broker-dealer: means a person engaged in the business of effecting transactions in securities for the accounts of others or for the person's own account. See Hawaii Revised Statutes 485A-102
- Commissioner: means the commissioner of securities of this State. See Hawaii Revised Statutes 485A-102
- Federal covered investment adviser: means a person registered under the Investment Advisers Act of 1940. See Hawaii Revised Statutes 485A-102
- Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Hawaii Revised Statutes 485A-102
- Investment adviser representative: means an individual employed by or associated with an investment adviser or federal covered investment adviser and who makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or holds oneself out as providing investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing. See Hawaii Revised Statutes 485A-102
- Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See Hawaii Revised Statutes 485A-102
- Securities and Exchange Commission: means the United States Securities and Exchange Commission. See Hawaii Revised Statutes 485A-102
- Self-regulatory organization: means a national securities exchange registered under the Securities Exchange Act of 1934, a national securities association of broker-dealers registered under the Securities Exchange Act of 1934, a clearing agency registered under the Securities Exchange Act of 1934, or the Municipal Securities Rulemaking Board established under the Securities Exchange Act of 1934. See Hawaii Revised Statutes 485A-102
A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative shall not be liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by or filed with the commissioner or a designee of the commissioner, the Securities and Exchange Commission, or a self-regulatory organization, unless the person knew, or should have known at the time that the statement was made, that it was false in a material respect or the person acted in reckless disregard of the statement’s truth or falsity.