DE SB91

Renames the "Division of Securities" to "Investor Protection Unit" and "Securities Commissioner" to "Investor Protection Director" throughout Title 6, Chapter 73 of the Delaware Code.

Clarifies that Delaware's anti-fraud provision (§73-201) should be interpreted according to federal court interpretations of similar provisions in Section 17(a) of the Securities Act of 1933 and Rule 10b-5 under the Securities Exchange Act of 1934, including differences in pleading requirements between regulator and private actions.

Grants the Investor Protection Director authority to delegate powers and duties to issue orders to an administrative hearing officer appointed by the Attorney General.

Updates references to federal securities regulations, including changing references to the Interstate Commerce Commission to the United States Department of Transportation and updating stock exchange names (e.g., American Stock Exchange to NYSE Amex Equities, NASDAQ OMX PHLX).

Takes effect immediately upon enactment into law.