Ohio Administrative Code Title 1301:6 - Division of Securities
Ohio Administrative Code – Title 1301:6: Division of Securities
Overview:
Title 1301:6 of the Ohio Administrative Code governs the Division of Securities within the Ohio Department of Commerce. This title contains the rules that regulate securities offerings, broker-dealers, investment advisers, and enforcement actions in the state. These rules are authorized primarily under Ohio Revised Code Chapter 1707, also known as the Ohio Securities Act.
🔹 Core Functions of the Division of Securities:
Regulating Securities Offerings:
Registration and exemptions for public and private securities offerings.
Requirements for disclosure statements and offering circulars.
Licensing & Regulation of Market Participants:
Licensing requirements for broker-dealers, salespersons, investment advisers, and investment adviser representatives.
Continuing education and renewal procedures.
Enforcement & Compliance:
Investigating fraud, misrepresentation, and other securities violations.
Imposing administrative penalties, suspensions, or revocations of licenses.
Exemptions from Registration:
Rules outlining securities or transactions exempt from registration under state law (e.g., Regulation D equivalents, intrastate offerings, nonprofit exemptions).
Notice Filings:
Federal covered securities under the National Securities Markets Improvement Act (NSMIA) must file notices with the Ohio Division.
🔹 Common Chapters/Sections in Title 1301:6:
Here are examples of chapter-level organization (actual chapter numbers may vary slightly depending on updates):
1301:6-3-01 — Definitions used in securities rules
1301:6-3-03 — Requirements for registration by coordination or qualification
1301:6-3-04 — Exempt transactions (such as Rule 506 offerings)
1301:6-3-06 — Licensing of dealers and salespersons
1301:6-3-15 — Advertising and promotional materials
1301:6-3-19 — Books and records for investment advisers
1301:6-3-23 — Prohibited business practices for advisers and brokers
1301:6-3-25 — Administrative proceedings and enforcement powers
🔹 Key Regulatory Areas Covered:
| Area | Description |
|---|---|
| Securities Registration | Details on how to register or qualify securities for sale in Ohio |
| Broker-Dealer Licensing | Requirements and procedures for licensure and compliance |
| Investment Adviser Rules | Books, recordkeeping, fiduciary duties, and advertising restrictions |
| Fraud Provisions | Defines fraudulent practices, penalties, and redress options |
| Exemptions | Clarifies securities and transactions exempt under Ohio law |
🔹 Legal Authority:
Based on Ohio Revised Code Chapter 1707
Administered by the Ohio Division of Securities, under the Department of Commerce
Enforcement coordinated with the Attorney General when necessary
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