Securities Update RAC

The Division of Financial Regulation (DFR) of the Department of Consumer and Business Services (DCBS) is preparing to begin rulemaking to: adopt Continuing Education (CE) requirements; update the special designations rule to address religious advisers; harmonize the supervision and books and records provisions for broker-dealers with those of investment advisers; update references to securities and transactions exempted under the manual exemptions; update references to federal exemptions; clarify how testimonials should be treated; clarify how aggregate amount for stock options should be calculated as reflected in the Rule 701 form; simplify the fairness hearing process; clarify terms and procedures for interim financials; update suitability requirements to correspond to FINRA’s.

All meetings held via Microsoft Teams meetings.
Join on your computer or mobile app.*
*Download the Microsoft Teams app

Committee Contacts:

Lauren Winters
Senior Policy Advisory
Lauren.E.WINTERS@dcbs.oregon.gov
Phone: 503-979-3788

Karen Winkel
Rules Coordinator
Karen.J.WINKEL@dcbs.oregon.gov
Phone: 503-947-7694

Scheduled meetings

March 21, 2023
Time: 11:00 a.m. - Noon

Microsoft Teams meeting
Join on your computer, mobile app or room device
Click here to join the meeting
Meeting ID: 268 521 490 386
Passcode: hEvVqZ
Or call in(audio only)
+1 503-446-4951,,416413982#
(United States, Portland)
Phone Conference ID: 416 413 982#

Prior meetings:

October 24, 2022

Documents:

Agenda
CE draft rules
Statement of Need and Fiscal Impact (draft)

Committee members

Cody Berne
Stoll Berne

Craig Smith
von Borstel & Associates

Dara Westlake
Guerilla Development

Darlene Pasieczny
Public Investors Advocate Bar Association

Emil Ali
McCabe & Ali

Kevin Christianson
Oregon Bankers Association

Linda Navarro
Oregon Bankers Association

Marin Gibson
Securities Industry and Financial Markets Association

Maureen Thompson
Certified Financial Planner Board of Standards

Mike Esler
Esler, Stephens & Buckley

Rob Frankel
Investments & Wealth Institute

Roger Beyer
NAIFA

Scott Mullins
Mullins Law Office

Todd Sakoda
The Consortium