Okla. Stat. tit. 71, § 71-1-502: Prohibited conduct in providing investment advice

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.