October 25, 1989
TO: STATE SECURITIES MEMBERS NO. 37-89
RE: POST REGISTRATION REPORTS - OKLAHOMA
__________________________________________________________
The Institute has recently been advised by the Oklahoma
Department of Securities that a delinquent filing fee of $250.00
will be assessed for failure to submit reports required by Rule
305(i) on a timely basis.
Rule 305(i) requires the submission of two reports to the
Department which include: (1) a statement as to whether the
offering has been completed, and (2) the total dollar amount of
securities sold since the registration date. The first report
must be submitted no later than six months from the registration
date. Thus, a report covering securities sold during the six
month period after the registration date, and submitted after the
end of that period, does not comply with Rule 305(i). Issuers
submitting reports after the six month date shall be subject to
the delinquent filing fee. According to a staff member of the
Department, the first report may include total sales figures of
less than six months so that the report is submitted on a timely
basis. The second report is due within thirteen months from the
registration date and should include total sales figure for the
twelve month registration period.
We will keep you informed of any other developments.
Patricia Louie
Assistant General Counsel