Okla. Stat. tit. 71, § 71-1-502
This is the official text of Okla. Stat. tit. 71, § 71-1-502, part of Oklahoma’s Stat. tit. 71, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 71,." Browse the sections below, each linked to its official government source.
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Prohibited conduct in providing investment advice
Official statutory text
A. It is unlawful and shall be deemed a Class C2 felony offense
for a person that advises others, for compensation, either directly
or indirectly, or through publications or writings, as to the value
of securities or the advisability of investing in, purchasing or
selling securities, or that, for compensation and as part of a
regular business, issues or promulgates analyses or reports
concerning securities:
1. To employ a device, scheme, or artifice to defraud another
person;
2. To make an untrue statement of a material fact or to omit to
state a material fact necessary in order to make the statement made,
in the light of the circumstances under which it is made, not
misleading; or
3. To engage in an act, practice, or course of business that
operates or would operate as a fraud or deceit upon another person.
B. 1. A rule adopted under this act may define an act,
practice, or course of business of an investment adviser or an
investment adviser representative as fraudulent, deceptive or
manipulative, and prescribe means reasonably designed to prevent
investment advisers and investment adviser representatives from
engaging in acts, practices, and courses of business defined as
fraudulent, deceptive, or manipulative.
2. A rule adopted or order issued under this act may specify
the contents of an investment advisory contract entered into,
extended, or renewed by an investment adviser.
for a person that advises others, for compensation, either directly
or indirectly, or through publications or writings, as to the value
of securities or the advisability of investing in, purchasing or
selling securities, or that, for compensation and as part of a
regular business, issues or promulgates analyses or reports
concerning securities:
1. To employ a device, scheme, or artifice to defraud another
person;
2. To make an untrue statement of a material fact or to omit to
state a material fact necessary in order to make the statement made,
in the light of the circumstances under which it is made, not
misleading; or
3. To engage in an act, practice, or course of business that
operates or would operate as a fraud or deceit upon another person.
B. 1. A rule adopted under this act may define an act,
practice, or course of business of an investment adviser or an
investment adviser representative as fraudulent, deceptive or
manipulative, and prescribe means reasonably designed to prevent
investment advisers and investment adviser representatives from
engaging in acts, practices, and courses of business defined as
fraudulent, deceptive, or manipulative.
2. A rule adopted or order issued under this act may specify
the contents of an investment advisory contract entered into,
extended, or renewed by an investment adviser.
Status: in_force · Read it on the official government site
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