Oklahoma Investment and Securities Laws

Guidelines and Resources for Wise Investing

At the state level, Oklahoma regulates securities activities through the Oklahoma Securities Commission’s Department of Securities. Oklahoma securities law is governed by the Oklahoma Uniform Securities Act of 2004 which outlines the appropriate securities registration processes and broker/dealer licensing guidelines. Its intent is to prohibit fraud in Oklahoma securities transactions.

The Oklahoma Business Opportunity Sales Act, Oklahoma Subdivided Land Sales Code, Oklahoma Take-Over Disclosure Act of 1985, and Rules of the Oklahoma Securities Commission are state statutes governing various aspects of securities and investment activities in our state. These guidelines are overseen by the Oklahoma Administrator of the Department of Securities. (To learn more about these regulations, visit the Oklahoma Department of Securities web site at www.securities.ok.gov and select “Acts and Rules” from the left navigation bar.)

The Oklahoma Securities Commission provides the following tips for securities investors:

• Contact the Oklahoma Securities Commission with any questions about the registration or licensure of an investment firm, investment advisor, or securities product.
• Fully-investigate the legitimacy of an investment that seems too good to be true. Get a second opinion and exercise common sense.
• Request a full, written explanation of a proposed investment. Legitimate investments will have a prospectus or offering circular that contains clear, accurate, detailed information about the security.
• Don’t let someone talk you into making significant changes in your portfolio or employer-sponsored retirement plan; get unbiased advice before you make significant changes that can impact the long-term success of your investments.

Before you select a stockbroker or investment advisor, it’s a good idea to investigate the advisor’s professional history. This type of information is easy to obtain through the Central Registration Depository (CRD), a database that contains licensing and registration information for more than 600,000 stockbrokers and agents across the Unites States.

In Oklahoma, the CRD can be accessed through the Oklahoma Department of Securities. (Stockbrokers and investment advisors are not notified of your CRD request.) A CRD report will provide background information about your stockbroker, including:

• Employment history
• Securities examination scores
• Licensing and registration status
• Disciplinary actions

Before you enlist a securities advisor, do your homework to ensure that they will provide wise guidance in developing your investment portfolio. If you believe that your stockbroker or financial advisor is involved in fraudulent investing, contact an investment attorney with Oklahoma securities fraud experience. The investment attorneys at The Hershewe Law firm will provide a complimentary consultation to assess your individual situation.

Contact our offices toll-free at 877-382-9734 or use our web form.