Okla. Admin. Code § 660:11-9-51

Current through Vol. 41, No. 19, June 17, 2024

Section 660:11-9-51 - Registration renewal and sales reporting requirements

(a)Registration renewal. Pursuant to Section 1-305.H of the Securities Act, every registration statement ordered effective is effective for one (1) year after its effective date, and certain registration statements may be effective for any longer period during which the security is being offered. Registration statements, the effectiveness of which is to continue beyond one (1) year from their effective date, must have their effectiveness renewed annually. A renewal of the effectiveness of a registration statement may be obtained by submitting a registration renewal report to keep the information contained in the registration statement reasonably current and by paying appropriate fees.

(1)Time of filing. Each registration renewal report shall be submitted no more than thirty (30) days before or thirty (30) days after each anniversary of the registration effective date.

(2)Content. Each registration renewal report submitted shall contain:

(A) a written summary of any substantive changes in the registration statement since the later of the date of registration or the latest filing of a registration renewal report; and

(B) a copy of the latest post-effective amendment to the registration statement as filed with the SEC that has been marked for changes from the prior version of the registration statement as filed with the SEC; or, if not registered with the SEC, the proposed amendment to the registration statement that has been marked for changes from the prior version of the registration statement as filed with the Department.

(3)Examination of report. The Department shall conduct a special examination of each registration renewal report filed. The purpose for such special examination shall be to evaluate the reported changes in the registration statement and to determine whether the registration should continue. The examination report shall consist of notification to the registrant of the status of the registration.

(4)Fee. Each registration renewal report filed shall include the examination fee set forth in Section 1-612.B of the Securities Act.

(b)Sales reporting. Pursuant to Section 1-305.I of the Securities Act, and so long as a registration statement is effective, the Administrator may require the applicant, the issuer, or the broker-dealer to file reports not more often than quarterly to disclose the progress of the offering. Unless the Administrator requires more frequent sales reporting by request as to a specific registered security, a person who has filed a registration statement that has been ordered effective shall file one (1) registration sales report to disclose the progress of the offering for the initial one (1) year period of effectiveness and for each one (1) year renewal period of effectiveness thereafter.

(1)Time of filing. Each registration sales report shall be submitted no later than thirty (30) days after each anniversary of the effective date of the registration, or no later than thirty (30) days after the termination of the offering, whichever is earlier.

(2)Content. Each registration sales report submitted shall contain:

(A) the file number of the registration of securities to which the registration sales report relates;

(B) a statement as to whether the offering has been completed; and

(C) the dollar amount of each class of securities sold in the state for the entire one (1) year period of the registration, or from the beginning of the one (1) year period of registration through the completion of the offering, as applicable, in substantially the following form: Balance unsold at beginning of period $ ADD: Additional authorizations LESS: Amount sold during period Balance unsold at end of period $

(3)Fee. Each registration sales report filed shall include the issuer sales report fee as required in Section 1-612 of the Securities Act.

(c)Piecemeal filings. Any report required under this section is not considered filed if it is incomplete. Piecemeal filings shall not be accepted.

Okla. Admin. Code § 660:11-9-51

Added at 21 Ok Reg 2532, eff 7-1-04