Oklahoma Department of Securities
Encyclopedia
The Oklahoma Department of Securities (ODS) is an agency
of the state of Oklahoma. The Department oversees the securities business in Oklahoma. The Department regulates securities agents, broker-dealers, and investment advisers as well as the registration of stocks, bonds, and many other types of securities.
The Department is led by the Oklahoma Securities Commission, which consists of five members. Four members are appointed by the Governor of Oklahoma
with the consent of the Oklahoma Senate
to serve six year terms. The State Banking Commissioner
serve as the fifth voting member of the Commission. The Department's executive is the Administrator of Securities who is appointed by the Commission.
The Department was created in 1959 during the term of Governor J. Howard Edmondson
.
with the advice and consent of the Oklahoma Senate
. One member is a member of the Oklahoma Bar Association, one member is an active officer of a bank or trust company operating in the State, one member is a certified public accountant and one member is an active member from the securities industry. The State Banking Commissioner
serves as the fifth voting member of the Commission.
All members of the Commission, except the State Banking Commissioner, serve six year terms.
It is the duty of the Commission to establish rules regulating the securities market and to appoint an Administrator of the Department, who serves at the pleasure of the Commission.
. Instead, it is funded entirely from license fees generated from the entities regulated by the Department.
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
of the state of Oklahoma. The Department oversees the securities business in Oklahoma. The Department regulates securities agents, broker-dealers, and investment advisers as well as the registration of stocks, bonds, and many other types of securities.
The Department is led by the Oklahoma Securities Commission, which consists of five members. Four members are appointed by the Governor of Oklahoma
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
with the consent of the Oklahoma Senate
Oklahoma Senate
The Oklahoma Senate is the upper house of the two houses of the Legislature of Oklahoma, the other being the Oklahoma House of Representatives. The total number of Senators is set at 48 by the Oklahoma Constitution....
to serve six year terms. The State Banking Commissioner
Oklahoma State Banking Department
The Oklahoma State Banking Department is an agency of the state of Oklahoma. The Banking Department is responsible for regulating Oklahoma's banking system, including state-chartered banks, credit unions, savings and loan associations, and trust companies, as well as cemeteries and money order...
serve as the fifth voting member of the Commission. The Department's executive is the Administrator of Securities who is appointed by the Commission.
The Department was created in 1959 during the term of Governor J. Howard Edmondson
J. Howard Edmondson
James Howard Edmondson was the 16th Governor of Oklahoma from 1959 to 1963. Elected at the age of 33, Edmondson is the youngest governor in the history of the state.- Biography :...
.
Organization
- Securities Commission
- Administrator
- Deputy Administrator
- Professional Registration Division
- Corporate Finance Division
- Enforcement Division
- Investor Education Division
- Deputy Administrator
- Administrator
Securities Commission
The Securities Commission is the governing body of the Department of Securities. The Commission is composed of five members appointed by the Governor of OklahomaGovernor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
with the advice and consent of the Oklahoma Senate
Oklahoma Senate
The Oklahoma Senate is the upper house of the two houses of the Legislature of Oklahoma, the other being the Oklahoma House of Representatives. The total number of Senators is set at 48 by the Oklahoma Constitution....
. One member is a member of the Oklahoma Bar Association, one member is an active officer of a bank or trust company operating in the State, one member is a certified public accountant and one member is an active member from the securities industry. The State Banking Commissioner
Oklahoma State Banking Department
The Oklahoma State Banking Department is an agency of the state of Oklahoma. The Banking Department is responsible for regulating Oklahoma's banking system, including state-chartered banks, credit unions, savings and loan associations, and trust companies, as well as cemeteries and money order...
serves as the fifth voting member of the Commission.
All members of the Commission, except the State Banking Commissioner, serve six year terms.
It is the duty of the Commission to establish rules regulating the securities market and to appoint an Administrator of the Department, who serves at the pleasure of the Commission.
Budget
The Department of Securities is not funded by yearly appropriations from the Oklahoma LegislatureOklahoma Legislature
The Legislature of the State of Oklahoma is the biennial meeting of the legislative branch of the government of Oklahoma. It is bicameral, comprising the Oklahoma House of Representatives and the Oklahoma Senate, with all members elected directly by the people. The House of Representatives has 101...
. Instead, it is funded entirely from license fees generated from the entities regulated by the Department.
See also
- Oklahoma Office of State FinanceOklahoma Office of State FinanceThe Oklahoma Office of State Finance is the Oklahoma state government agency that prepares the Governor of Oklahoma’s annual budget, analyzes the effectiveness of state management, manages the state’s budget system and makes appropriate allotments and transfers throughout the state government...
- Oklahoma State Banking DepartmentOklahoma State Banking DepartmentThe Oklahoma State Banking Department is an agency of the state of Oklahoma. The Banking Department is responsible for regulating Oklahoma's banking system, including state-chartered banks, credit unions, savings and loan associations, and trust companies, as well as cemeteries and money order...
- Oklahoma Tax CommissionOklahoma Tax CommissionThe Oklahoma Tax Commission is the Oklahoma state government agency that collects taxes and enforces the internal revenue laws of the state. The Commission is composed of three members appointed by the Governor of Oklahoma with the approval of the Oklahoma Senate...