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§ 1-608. Uniformity and cooperation with other agencies

Oklahoma Statutes AnnotatedTitle 71. SecuritiesEffective: November 1, 2022

Oklahoma Statutes Annotated
Title 71. Securities (Refs & Annos)
Chapter 1. Oklahoma Uniform Securities Act of 2004 (Refs & Annos)
Article 6. Administration and Judicial Review
Effective: November 1, 2022
71 Okl.St.Ann. § 1-608
§ 1-608. Uniformity and cooperation with other agencies
Currentness
A. The Administrator shall, in its discretion, cooperate, coordinate, consult, and, subject to Section 1-607 of this title, share records and information with the securities regulator of another state, Canada, a Canadian province or territory, a foreign jurisdiction, the Securities and Exchange Commission, the United States Department of Justice, the Commodity Futures Trading Commission, the Federal Trade Commission, the Securities Investor Protection Corporation, a self-regulatory organization, a national or international organization of securities regulators, a federal or state banking and insurance regulator, and a governmental law enforcement agency to effectuate greater uniformity in securities matters among the federal government, self-regulatory organizations, states, and foreign governments.
B. In cooperating, coordinating, consulting, and sharing records and information under this section and in acting by rule, order, or waiver under this act,1 the Administrator shall, in its discretion, take into consideration in carrying out the public interest the following general policies:
1. Maximizing effectiveness of regulation for the protection of investors;
2. Maximizing uniformity in federal and state regulatory standards; and
3. Minimizing burdens on the business of capital formation, without adversely affecting essentials of investor protection.
C. The cooperation, coordination, consultation, and sharing of records and information authorized by this section includes:
1. Establishing or employing one or more designees as a central depository for registration and notice filings under this act and for records required or allowed to be maintained under this act;
2. Developing and maintaining uniform forms;
3. Conducting a joint examination or investigation;
4. Holding a joint administrative hearing;
5. Instituting and prosecuting a joint civil or administrative proceeding;
6. Sharing and exchanging personnel;
7. Coordinating registrations under Sections 1-301 and 1-401 through 1-404 of this title and exemptions under Section 1-203 of this title;
8. Sharing and exchanging records, subject to Section 1-607 of this title;
9. Formulating rules, statements of policy, guidelines, forms, and interpretative opinions and releases;
10. Formulating common systems and procedures;
11. Notifying the public of proposed rules, forms, statements of policy, and guidelines;
12. Attending conferences and other meetings among securities regulators, which may include representatives of governmental and private sector organizations involved in capital formation, deemed necessary or appropriate to promote or achieve uniformity; and
13. Developing and maintaining a uniform exemption from registration for small issuers, and taking other steps to reduce the burden of raising investment capital by small businesses.

Credits

Laws 2003, c. 347, § 46, eff. July 1, 2004; Laws 2022, c. 77, § 39, eff. Nov. 1, 2022.
<The Oklahoma Uniform Securities Act of 2004, incorporated in this title as §§ 1-101 to 1-701, was enacted by Laws 2003, c. 347, effective July 1, 2004. See transitional provisions in § 1-701 of this title.>
<The Oklahoma Securities Act, consisting of §§ 1 et seq., 201 et seq., 301 et seq., 401 et seq., and 501; and §§ 701 to 703, of Title 71, was repealed by Laws 2003, c. 347, § 53, effective July 1, 2004.>
<For disposition of the subject matter of the repealed sections to the Oklahoma Securities Act of 2004, see the Disposition Table, post.>

Footnotes

1
Title 71, § 1-101 et seq.
71 Okl. St. Ann. § 1-608, OK ST T. 71 § 1-608
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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