OH HB52

Amends section 1707.20 to allow the Division of Securities to prescribe the form and content of financial statements without requiring a formal rule or order, and requires financial statements to be audited by independent certified public accountants and prepared in accordance with generally accepted accounting principles.

Allows the Division of Securities to incorporate by reference federal statutes, rules, regulations, and forms (including future amendments) into its rules, notwithstanding state requirements for publishing regulations.

Enacts section 1707.49 to authorize the commissioner to order administrative assessments up to $10,000 per violation for breaches of Ohio Securities Act provisions, with each day of a continuing violation treated as a separate offense.

Directs administrative assessment revenues to be deposited into the Division of Securities investor education and enforcement expense fund.

Grants the commissioner discretionary authority to issue orders requiring violators to rescind transactions, disgorge profits, provide restitution, pay investigation costs, and pay interest, either in addition to or instead of administrative assessments.