[32342]
April 1, 2020 TO: ICI Members SUBJECTS: State Issues RE: Ohio Extends Blue Sky Filing Deadlines During the Pandemic
Yesterday, Andrea Seidt, the Ohio Securities Commissioner, informed us that, on Friday, March 27th, Ohio Governor DeWine signed into law emergency legislation (i.e., HB 197) that provides relief to businesses and Ohioans in light of the COVID-19 crisis. Included in this 305-page bill are provisions that automatically extend renewal deadlines for all existing Ohio Securities Division licenses, registrations, and notice filings that would otherwise expire during the crisis. It further provides licensees/registrants/issuers an extension to complete any other actions that are necessary to maintain those licenses and registrations. According to Commissioner Seidt, the extension provides all licensees/registrants a 90-day window after the emergency period has ended to make any renewal filings due and to take any other actions necessary to maintain licensure and registration in Ohio. Although the end date of the emergency period remains uncertain, the 90-day window is structured so that all extensions automatically end no later than December 1, 2020.
Commissioner Seidt also informed us that, while H.B. 197 also grants the Division and other state agencies a 90-day extension on taking action on any filings made with them, the Ohio Securities Division “currently has no plans to delay its review of licensing or registration applications as it is continuing operations via telework with minimal to no disruption in service.”
Members who have any questions about how HB 197 impacts their filing requirements in Ohio are directed to contact either Ryan Rodgers (ryan.rodgers@com.state.oh.us) or Mark Heuerman (Mark.Heuerman@com.state.oh.us) of the Division for assistance.
Tamara K. Salmon
Associate General Counsel