R.I. Government Agencies | Privacy Policy |
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The Securities Section is responsible for administering the state's securities laws. The intent of these laws is to protect the investing public by requiring a satisfactory investigation of both the people who offer securities as investments and of the securities themselves. The Securities section addresses investor complaints concerning securities brokers and dealers and investment advisors as well as complaints about offerings of particular investment vehicles.
Although the division cannot represent an investor in a claim for monetary damages, the staff can investigate alleged violations and may suspend or revoke licenses, issue stop orders against securities offerings, issue cease and desist orders, seek court-ordered injunctions or refer matters to the Attorney General for criminal prosecution. Conviction of willfully violating the securities statutes carries the penalty of a felony.
Issuers of Stocks, Bonds
Registration with State using a Form U-1, Form U-2 and a copy of the offering documents, Fee $300 minimum, $1,000 maximum (1/10th of 1% of the aggregate offering amount in RI). Rule 504 and Regulation A offerings must register under Section 304(qualification). Rule 505 - Regulation D offering - must file $300., Form D and Form U-2 10 days before a sale here. Rule 506 - Regulation D offering - must file $300., Form D and Form U-2 within 15 days of the first sale here.
Broker Dealers
Apply for license through the Central Registration Depository ("CRD") of the Financial Industry Authority ("FINRA").
A copy of the Uniform Franchise Offering Circular and a $500 fee along with an application and a Uniform Consent to Service of Process is required for a new applicant. A renewal must be filed thirty days before expiration along a $250 fee and a copy of the UFOC including current audited financial statements.
Securities
Franchises
Charities
