Suspension or revocation.

CFR · 2024-01-01 · US · Title 13

(a) (1) Committing a serious violation, in SBA's discretion, of: (i) The regulations governing the Secondary Market; or (ii) Any provisions in the contracts entered into by the parties, including SBA Forms 1086, 1088 and 1454; (2) Knowingly submitting false or fraudulent information to the SBA or FTA; or (3) A Lender's receipt, from its primary Federal or state regulator (including SBA), of a cease and desist order, a consent agreement affecting capital or commercial lending issues, a supervisory action citing unsafe or unsound banking practices, or any other supervisory action a primary regulator establishes hereafter that addresses unsafe or unsound lending practices; or a going concern opinion issued by the Lender's auditor. A Lender subject to a public action or going concern opinion must notify the D/FA and the D/OCRM within five (5) business days (or as soon as practicable thereafter) of the public issuance of any such action or the issuance of a going concern opinion. The Lender notice shall include copies of all relevant documents for SBA review. (b) (1) Its supervisory agency has revoked or suspended the broker or dealer from engaging in the securities business, or is investigating the firm or broker for a practice which SBA considers, in its sole discretion, to be relevant to the broker's or dealer's fitness to participate in the Secondary Market; (2) The broker or dealer has been indicted or otherwise formally charged with a misdemeanor or felony which bears on its

official document · source cfr-2024 · id 13:§ 120.660