SB 199 Summary

• Amends Ohio's Securities Law (Chapter 1707) to align state regulations with federal securities requirements and reduce duplicative rules that may hinder job creation.

• Prohibits the division of securities from conditioning or delaying registration of securities due to noncompliance with state requirements that are more stringent or burdensome than federal law requires.

• Modifies registration by coordination provisions to allow securities registered federally under Securities Act of 1933 or Regulation A to register by coordination rather than qualification.

• Prevents the division from issuing comment letters, written guidance, or policy statements concerning registration by coordination, limiting oversight to administrative matters only.

• Applies the same deregulatory restrictions to enforcement powers under the division's authority to suspend registrations and issue cease-and-desist orders.