§ 533c-304

533C.304 Information requirements for certain individuals. 1. An individual in control of a licensee or applicant, an individual seeking to acquire control of a licensee, and each key individual shall furnish to the superintendent throughNMLS the following items: a. The individual’s fingerprints for submission to the federal bureau of investigation and the superintendent for purposes of a national criminal history background check unless theperson currently resides outside of the United States and has resided outside of the UnitedStates for the last ten years. b. Personal history and experience in a form and in a medium prescribed by the superintendent, to obtain all of the following: (1) An independent credit report from a consumer reporting agency. If the individual does not have a social security number, the requirement shall be waived. (2) Information related to any criminal convictions or pending charges.(3) Information related to any regulatory or administrative action and any civil litigation involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breachof fiduciary duty, or breach of contract. 2.

o any regulatory or administrative action and any civil litigation involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breachof fiduciary duty, or breach of contract. 2. If the individual has resided outside of the United States at any time in the last ten years, the individual shall also provide an investigative background report prepared by anindependent search firm. The search firm shall demonstrate it has sufficient knowledge,resources, and employs accepted and reasonable methodologies to conduct the research ofthe background report and be unaffiliated with, or have no interest in, the individual it isresearching. The investigative background report shall be written in the English languageand shall contain all of the following: a. If available in the individual’s current jurisdiction of residency, a comprehensive credit report, or any equivalent information obtained or generated by the independent search firmto accomplish such report, including a search of the court data in the countries, provinces,states, cities, towns, and contiguous areas where the individual resided and worked. b.

ependent search firmto accomplish such report, including a search of the court data in the countries, provinces,states, cities, towns, and contiguous areas where the individual resided and worked. b. Criminal record information for the past ten years, including but not limited to felonies, misdemeanors, or similar convictions for violations of law in the countries, provinces, states,cities, towns, and contiguous areas where the individual resided and worked. c. Employment history.d. Media history, including an electronic search of national and local publications, wire services, and business applications. e. Financial services-related regulatory history, including but not limited to money transmission, securities, banking, insurance, and mortgage-related industries. 2003 Acts, ch 96, §13, 42; 2013 Acts, ch 5, §12; 2013 Acts, ch 70, §26; 2023 Acts, ch 83, §13Referred to in §533C.305, 533C.401, 533C.402Section stricken and rewritten Sat Dec 23 01:36:48 2023 Iowa Code 2024, Section 533C.304 (19, 1)