| Oklahoma Department of Securities | |
|---|---|
| Great Seal of Oklahoma | |
| Agency overview | |
| Formed | 1959 |
| Headquarters | 120 N. Robinson Oklahoma City, Oklahoma |
| Employees | 2 classified 25 unclassified |
| Annual budget | $4.8 million |
| Ministers responsible | Scott Meacham, Secretary of Finance and Revenue William O. Johnstone, Chair of Commission |
| Agency executive | Irving L. Faught, Administrator |
| Parent agency | Oklahoma Securities Commission |
| Website | |
| www.securities.ok.gov | |
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.
Contents |
The Securities Commission is the governing body of the Department of Securities. The Commission is composed of five members appointed by the Governor of Oklahoma 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.
The Department of Securities is not funded by yearly appropriations from the Oklahoma Legislature. Instead, it is funded entirely from license fees generated from the entities regulated by the Department.
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