                                 CODE OF VIRGINIA

(EFFECTIVE JULY 1, 2026) INFORMATION REQUIRED FOR CERTAIN INDIVIDUALS (§
6.2-1932)

A. Any individual in control of a licensee or applicant, any individual that
seeks to acquire control of a licensee, and each key individual shall furnish to
the Commission through NMLS the following items:

   1. The individual&#8217;s fingerprints for submission to the Federal Bureau of
   Investigation for purposes of a national criminal history background check
   unless the person currently resides outside of the United States and has
   resided outside of the United States for the last 10 years.

   2. Personal history and experience in a form and in a medium prescribed by the
   Commission, including (i) information enabling the Commission to obtain an
   independent credit report from a consumer reporting agency unless the
   individual does not have a social security number, in which case this
   requirement shall be waived; (ii) information related to any criminal
   convictions or pending charges; and (iii) information related to any
   regulatory or administrative action and any civil litigation involving claims
   of fraud, misrepresentation, conversion, mismanagement of funds, breach of
   fiduciary duty, or breach of contract.

B. If an individual referenced in subsection A has resided outside of the United
States at any time in the last 10 years, the individual shall also cause an
investigative background report to be prepared by an independent search firm.
The individual shall pay for the cost of such report, and the report shall be
sent directly by the search firm to the Commission. At a minimum, the search
firm shall (i) demonstrate that it has sufficient knowledge and resources and
employs accepted and reasonable methodologies to conduct the research of the
background report and (ii) not be affiliated with or have an interest with the
individual it is researching. At a minimum, the investigative background report
shall be written in the English language and shall contain the following: (a) if
available in the individual&#8217;s current jurisdiction of residency, a
comprehensive credit report, or any equivalent information obtained or generated
by the independent search firm to accomplish such report, including a search of
the court data in the countries, provinces, states, cities, towns, and other
areas where the individual resided and worked; (b) criminal records information
for the past 10 years, including felonies, misdemeanors, or similar convictions
for violations of law in the countries, provinces, states, cities, towns, and
other 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; and (e) financial
services-related regulatory history, including money transmission, securities,
banking, insurance, and mortgage-related industries.

HISTORY: 2025, c. 214.