§ 25243 Broker-Dealer Misrepresentation Prohibition
This law says people who have a broker‑dealer or investment‑adviser certificate can't say they were sponsored, recommended, approved, or endorsed by the commissioner, or that the commissioner judged their abilities. They can say they have the certificate if it's true and not in a paid advertisement.
A financial adviser puts an ad that says, “The State Commissioner recommends me for all your investments.”
That statement is not allowed because it claims the commissioner approved or recommended the adviser. The adviser could instead say, “I hold a broker‑dealer certificate,” as long as it’s true and not a paid ad.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 25243 Broker-Dealer Misrepresentation Prohibition
Last verified: January 10, 2026