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Indiana Adopts Rules Coordinating with Indiana Securities Act

By Jim Hamilton

Proposed rule amendments, repeals and new rules coordinating with the Indiana Securities Act that took effect July 1, 2008 were adopted by the Indiana Securities Division, effective July 28, 2010. The new rules and existing rule changes pertain to federal covered securities, exemptions, registrations of securities, broker-dealers, agents, investment advisers, investment adviser representatives and administrative hearings but a substantial portion of the existing rule text remains unchanged. Instead, most of the amendments are nonsubstantive, updating numerical section references to conform to the Indiana Securities Act, providing the official citations to federal securities acts such as the Securities Exchange Act of 1934 and the Investment Company Act of 1940, changing NASD references to FINRA, removing or replacing the word "said" and "such" with "the" and "these" as appropriate, and making certain provisions applicable to both "he" and "she" or "his" and "her."

For additional information please see http://www.in.gov/sos/securities. The contact person for the rules is Jeff Bush, Chief Deputy Commissioner at (317) 232-6681 or jabush@sos.in.gov.

Full post as published by Jim Hamilton's World of Securities Regulation on July 29, 2010 (boomark / email).