{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-1-404","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-1-404","heading":"Investment adviser representative registration","body":"requirement and exemptions.\n\nA. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor an individual to transact business in this state as an\n\ninvestment adviser representative unless the individual is\n\nregistered under this act as an investment adviser representative or\n\nis exempt from registration as an investment adviser representative\n\nunder subsection B of this section.\n\nB. The following individuals are exempt from the registration\n\nrequirement of subsection A of this section:\n\n1. An individual who is employed by or associated with an\n\ninvestment adviser that is exempt from registration under subsection\n\nB of Section 1-403 of this title unless the individual has a place\n\nof business in this state or is not a \"supervised person\" as that\n\nterm is defined in Section 202(a)(25) of the Investment Advisers Act\n\nof 1940 (15 U.S.C. Section 80b-2(a)(25)); and\n\n2. Any other individual exempted by rule adopted or order\n\nissued under this act.\n\nC. The registration of an investment adviser representative is\n\nnot effective while the investment adviser representative is not\n\nemployed by or associated with an investment adviser registered\n\nunder this act or a federal covered investment adviser that has made\n\nor is required to make a notice filing under Section 1-405 of this\n\ntitle.\n\nD. An individual may transact business as an investment adviser\n\nrepresentative for more than one investment adviser or federal\n\ncovered investment adviser at a time unless a rule adopted or order\n\nissued under this act prohibits or limits an individual from acting\n\nas an investment adviser representative for more than one investment\n\nadviser or federal covered investment adviser.\n\nE. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor an individual acting as an investment adviser representative,\n\ndirectly or indirectly, to conduct business in this state on behalf\n\nof an investment adviser or a federal covered investment adviser if\n\nthe registration of the individual as an investment adviser\n\nrepresentative is suspended or revoked; or the individual is barred\n\nfrom employment or association with an investment adviser or a\n\nfederal covered investment adviser by an order under this act, the\n\nSecurities and Exchange Commission, or a self-regulatory\n\norganization; or the individual is subject to an order of a court of\n\ncompetent jurisdiction temporarily, preliminarily or permanently\n\nenjoining such individual from conducting business in this state on\n\nbehalf of an investment adviser or a federal covered investment\n\nadviser. Upon request from a federal covered investment adviser and\n\nfor good cause, the Administrator, by order issued, may waive, in\n\nwhole or in part, the application of the requirements of this\n\nsubsection to the federal covered investment adviser.\n\nF. An investment adviser registered under this act, a federal\n\ncovered investment adviser that has filed a notice under Section 1-\n\n405 of this title, or a broker-dealer registered under this act is\n\nnot required to employ or associate with an individual as an\n\ninvestment adviser representative for the referral of investment\n\nadvisory clients so long as any compensation paid by such persons\n\nfor such referral is paid to an investment adviser registered under\n\nthis act, a federal covered investment adviser who has filed a\n\nnotice under Section 1-405 of this title, or a broker-dealer\n\nregistered under this act with which the individual is employed or\n\nassociated as an investment adviser representative.","path":["OK Code","Title 71"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os71.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4bafabd0d3570d2dbbf317b8c3ce0a48594a846aa0212e80606220702d150e70","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-1-403","next":"us-ok/okla.-stat.-tit.-71-71-1-405"},"notice":"GroundRules: Original legal text. Not legal advice."}