Ohio investors have rights and protections under numerous laws and regulations. These include:
The Ohio Securities Act (OSA) is the state law that regulates the sale of securities in Ohio. It is administered by the Ohio Division of Securities, which is part of the Ohio Department of Commerce.
The OSA is designed to protect investors from fraud and to ensure that investors have access to accurate information about the securities they are considering purchasing.
The OSA requires that all securities offered for sale in Ohio be registered with the Division of Securities, unless the securities or transactions are exempt. Exempt securities include:
Securities issued by the United States or the state of Ohio
Securities issued by certain banks and other financial institutions
Securities issued by certain non-profit organizations
Securities offered in certain private transactions
The OSA also requires that all broker-dealers, agents, and investment advisers who offer or sell securities in Ohio be registered with the Division of Securities.
Some of the key provisions of the OSA:
Registration of securities: All securities offered for sale in Ohio must be registered with the Division of Securities, unless the securities or transactions are exempt.
Registration of broker-dealers, agents, and investment advisers: All broker-dealers, agents, and investment advisers who offer or sell securities in Ohio must be registered with the Division of Securities.
Anti-fraud provisions: The OSA prohibits fraud and other unfair practices in the sale of securities.
Enforcement: The Division of Securities is responsible for enforcing the OSA. The Division can investigate alleged violations of the law and take enforcement actions, such as issuing cease-and-desist orders and imposing fines.
In addition to Ohio Securities Laws, Ohio investors are protected by the following federal laws and regulation:
To discuss your rights under Ohio or federal securities law, schedule a consultation with our law firm.