Okla. Stat. tit. 71, § 71-1-410

Oklahoma Statutes - Title 71. Securities Page 53

A. Subject to Section 15(i) of the Securities Exchange Act of

1934 (15 U.S.C. Section 78o(i)) or Section 222 of the Investment

Advisers Act of 1940 (15 U.S.C. Section 80b-18a), a rule adopted or

order issued under this act may establish minimum financial

requirements for broker-dealers registered or required to be

registered under this act and investment advisers registered or

required to be registered under this act.

B. Subject to Section 15(i) of the Securities Exchange Act of

1934 (15 U.S.C. Section 78o(i)) or Section 222 of the Investment

Advisers Act of 1940 (15 U.S.C. Section 80b-18a), a broker-dealer

registered or required to be registered under this act and an

investment adviser registered or required to be registered under

this act shall file such financial reports as are required by a rule

adopted or order issued under this act. If the information

contained in a record filed under this subsection is or becomes

inaccurate or incomplete in a material respect, the registrant shall

promptly file a correcting amendment.

C. Subject to Section 15(i) of the Securities Exchange Act of

1934 (15 U.S.C. Section 78o(i)) or Section 222 of the Investment

Advisers Act of 1940 (15 U.S.C. Section 80b-18a):

1. A broker-dealer registered or required to be registered

under this act and an investment adviser registered or required to

be registered under this act shall make and maintain the accounts,

correspondence, memoranda, papers, books, and other records as

required by rule adopted or order issued under this act;

2. Broker-dealer records required to be maintained under

paragraph 1 of this subsection may be maintained in any form of data

storage acceptable under Section 17(a) of the Securities Exchange

Act of 1934 (15 U.S.C. Section 78q(a)) if they are readily

accessible to the Administrator; and

3. Investment adviser records required to be maintained under

paragraph 1 of this subsection may be maintained in any form of data

storage required by rule adopted or order issued under this act.

D. The records of a broker-dealer registered or required to be

registered under this act and an investment adviser registered or

required to be registered under this act are subject to such

reasonable periodic, special, or other audits or inspections by a

representative of the Administrator, within or without this state,

as the Administrator considers necessary or appropriate in the

public interest and for the protection of investors. An audit or

inspection may be made at any time and without prior notice. The

Administrator may copy, and remove for audit or inspection copies

of, all records the Administrator reasonably considers necessary or

appropriate to conduct the audit or inspection. The Administrator

may assess a reasonable charge for conducting an audit or inspection

under this subsection.

Oklahoma Statutes - Title 71. Securities Page 54

E. Subject to Section 15(i) of the Securities Exchange Act of

1934 (15 U.S.C. Section 78o(i)) or Section 222 of the Investment

Advisers Act of 1940 (15 U.S.C. Section 80b-18a), an agent may not

have custody of funds or securities of a customer except under the

supervision of a broker-dealer and an investment adviser

representative may not have custody of funds or securities of a

client except under the supervision of an investment adviser or

federal covered investment adviser. A rule adopted or order issued

under this act may prohibit, limit, or impose conditions on a

broker-dealer regarding custody of funds or securities of a customer

and on an investment adviser regarding custody of securities or

funds of a client.

F. With respect to an investment adviser registered or required

to be registered under this act, a rule adopted or order issued

under this act may require that information be furnished or

disseminated to clients or prospective clients in this state as
aler regarding custody of funds or securities of a customer

and on an investment adviser regarding custody of securities or

funds of a client.

F. With respect to an investment adviser registered or required

to be registered under this act, a rule adopted or order issued

under this act may require that information be furnished or

disseminated to clients or prospective clients in this state as

necessary or appropriate in the public interest and for the

protection of investors and advisory clients.

G. A rule adopted or order issued under this act may require

any individual registered under Section 1-402 or 1-404 of this title

to participate in a continuing education program which is approved

by the Securities and Exchange Commission and administered by a

self-regulatory organization or, in the absence of such a program, a

rule adopted or order issued under this act may require continuing

education for an individual registered under Section 1-404 of this

title.