On November 22, 2013, the Commissioner of Business Oversight (“Commissioner”) and the California Department of Business Oversight (“DBO”) issued an order affecting all broker dealers and investment advisers (and any other businesses engaged in financial transactions) which are licensed to do business in the State of California. The order requires licensees to establish within their electronic mail system, a dedicated generic email address to receive electronic mail communications from the Commissioner and the DBO. The purpose of this order is to ensure that all licensees can be reached during an emergency and at other times. The Commissioner seeks to take advantage of “modern electronic communication methods” to deliver the same message simultaneously to all or to a select group of licensees of the DBO. The Commissioner and DBO want to be able to depend upon licensees to receive and respond to communications from the Commissioner in a dependable and timely manner. Below are some tips on creating your firm’s designated email address.
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