Okla. Admin. Code § 660:11-9-53

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

Section 660:11-9-53 - Special examinations of registrations

(a)Examination of application. The Department shall conduct a special examination of each application for registration under Sections 1-303 and 1-304 of the Securities Act to determine the adequacy of disclosure and to fulfill the Department's obligations under Section 1-306 of the Securities Act. This examination shall be based upon material contained in the Registration Statement and any other documentation which the applicant may be required to submit. Each application for registration shall be accompanied by the examination fee set forth in Section 1-612.B of the Securities Act. The examination report shall consist of the Department's written comments regarding the filing.

(b)On-site examinations of issuers. The business and records of issuers registered pursuant to Sections 1-303 and 1-304 of the Securities Act may be subject to periodic on-site examinations by the Administrator, and/or his designee, at such times as he determines necessary for the protection of the public. The Division of Registrations shall prepare a special report of every such examination.

(c)Department access. Each issuer scheduled for examination shall provide the personnel of the Department access to business books, documents, and other records. Each issuer shall provide personnel with office space and facilities to conduct on-site examinations, and assistance in the physical inspection of assets and confirmation of liabilities. Failure of any applicant or registrant to comply with any provision hereof shall constitute a violation of this section and shall be a basis for denial, suspension or revocation of the registration or application for registration.

Okla. Admin. Code § 660:11-9-53

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