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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 85. State Banking Department |
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Chapter 10. Supervision, Regulation and Administration of Banks, Trust Companies, and the Oklahoma Banking Code |
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Subchapter 13. Investor Protection |
SECTION 85:10-13-3. Advertising
Latest version.
- (a) Promotional materials/sales literature. Sales Literature is defined as any promotional materials or displays used in any manner in connection with the offer or sale of any security whether or not the issuer of the security is identified in such materials or displays, including, but not limited to, the following:(1) offering circulars, amended offering circulars and supplements thereto;(2) pamphlets, brochures and question and answer sheets;(3) form letters, circulars and mailers;(4) press releases, public notices, interviews by the media, newspaper or magazine advertisements, and advertisements on the internet;(5) audio/visual displays and oral presentations at seminars or lectures;(6) the text of any radio broadcast;(7) the audio/video contents of any television broadcast; and(8) the text of oral presentations by telephone solicitors.(b) References to the Banking Department. References to the Department in an offering circular may provide that the bank or trust company, or bank or trust company in organization, shall be subject to the jurisdiction of the Department and subject to periodic examination by the Department. However, no references to the Department may be made that would imply that the Department's supervision or examination will afford protection from loss on any investment in the bank or trust company's securities.(c) Mandatory noninsured disclosure. The security document itself (except when the document is a stock certificate) and all promotional materials or displays listed in (a) of this section which deal with uninsured deposits or investments shall contain on their face, in the case of written material, or clearly, prominently and conspicuously placed within the text, script or display in the case of any radio, television or other advertising media, the following statement or its equivalent: "THIS SECURITY IS NOT INSURED BY AN AGENCY OF THE GOVERNMENT"(d) Standards. All offering circulars required by this section and all promotional materials shall adhere to the standards of truth in fact and completeness.