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Illinois Administrative Code (Last Updated: March 27, 2024) |
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TITLE14. COMMERCE |
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PART130. REGULATIONS UNDER ILLINOIS SECURITIES LAW OF 1953 |
| SUBPART A. RULES OF GENERAL APPLICATION |
| § 130.100. Business Hours of the Securities Department |
| § 130.101. Computation of Time |
| § 130.110. Payment of Fees |
| § 130.120. Place of Filing |
| § 130.130. Date of Filing |
| § 130.135. Registration of Securities under Section 5 or 7 of the Act Utilizing the SRD |
| § 130.140. Requirements as to Proper Form |
| § 130.141. Additional Information |
| § 130.142. Additional Exhibits [Repealed] |
| § 130.143. Information Unknown or Not Reasonably Available |
| § 130.144. Requirements as to Paper, Printing, and Language |
| § 130.145. Number of Copies – Signatures |
| § 130.190. Provisions for Granting of Variance from Rules |
| SUBPART B. DEFINITIONS |
| § 130.200. Definitions of Terms Used in the Act and the Rules |
| § 130.201. Definition of the Term "Investment Contract", as Used in Section 2.1 of the Act |
| § 130.202. Definition of the Term "Fractional Undivided Interest", as Used in Section 2.1 of the Act with Reference to Oil and/or Gas Leases, Rights or Royalties |
| § 130.205. Definition of the Term "Issuer" as Used in Section 2.2 of the Act as Applied to Fractional Interests in Oil, Gas and Other Mineral Leases, Rights or Royalties |
| § 130.210. Definition of Acts Not Constituting a "Sale" or "Offer" as Used in Section 2.5 or 2.5a of the Act |
| § 130.211. Definition of Acts Not Constituting an "Offer" of Securities under Section 5, 6, 7 or 8 of the Act |
| § 130.212. Definition of Acts Not Constituting an "Offer" Under Section 2.5a of the Act (Testing the Waters) |
| § 130.216. Definition of "Participates" and "Participation", as Used in Section 2.6 of the Act in Relation to Certain Transactions |
| § 130.220. Definition of "Regularly Engaged in Securities Sales Activities", as Used in Section 2.9 of the Act |
| § 130.221. Exclusion of Certain Persons from the Definition of Investment Adviser in Section 2.11 of the Act |
| § 130.225. Definition of "Investment Fund Shares", as Used in Section 2.15 of the Act in Relation to Certain Issuers |
| § 130.233. Definition of the Phrase "Promissory Note or Draft, Bill of Exchange or Bankers' Acceptance" as Used in Section 3(L) of the Act |
| § 130.235. Definition, For Certain Purposes, of the Terms "Employee Profit-Sharing Trust or Plan", "Employee Pension Trust or Plan", as Used in Section 3.O of the Act [Repealed] |
| § 130.241. Definition of the Term "Institutional Investor" under Sections 4C and 4D of the Act |
| § 130.242. Definition of the Term "Financial Institution" under Section 4.C of the Act |
| § 130.245. Definition of the Terms "Balance Sheet" and "Income Statement", as Used in Section 4.F of the Act |
| § 130.247. Definition of the Term "Public" as Used in Section 4(G)(4) of the Act |
| § 130.248. Definition of the Terms "Offers for Sale" and "Solicitations of Offers to Buy", as Used in Section 4.L of the Act |
| § 130.250. Definition, For Certain Purposes, of the Terms "Commissions, Remuneration or Discounts", as Used in Section 4 and Section 5 of the Act |
| § 130.251. Definition of the Term "Maximum Aggregate Price", as Used in Section 5 of the Act |
| § 130.270. Definition of Certain Persons Not Considered to Be Dealers Under Section 2.7 of the Act |
| § 130.280. Definition of the Term "Branch Office" of a Registered Dealer, as Used in Section 8 of the Act |
| § 130.281. Definition of the Term "Branch Office" of a Registered Investment Adviser, as Used in Section 8 of the Act |
| § 130.282. Definition, For Certain Purposes, of the Term "Officers", as Used in Section 2.9 and Section 8.B.(6) of the Act |
| SUBPART C. FEDERAL COVERED SECURITIES AND TRANSACTIONS |
| § 130.293. Issuers of Covered Securities Required to File Notifications and Pay Fees and the Refusal to File Notifications or Pay Fees |
| § 130.370. Automated Quotation System Deemed to Have Substantially Equivalent Standards for Designation as Required By One or More Exchanges Set Forth in Section 3(G) of the Act [Repealed] |
| SUBPART D. EXEMPT TRANSACTIONS |
| § 130.420. Uniform Limited Offering Exemption Pursuant to Section 4.D of the Act |
| § 130.436. Procedures for Applying for Trading Authorization Pursuant to Section 4(F)(2) of the Act |
| § 130.440. Procedures for Filing Reports of Sale under Section 4.G of the Act |
| § 130.441. Calculation of Number of Persons Under Section 4.G or 4.M of the Act |
| § 130.442. Report of Sale of Securities pursuant to Section 4.G of the Act |
| § 130.490. Procedures for Filing Reports of Sale under Section 4.P of the Act |
| § 130.491. Report of Sale of Securities Pursuant to Section 4(P) of the Act |
| § 130.492. Exemption from Registration for Certain Canadian Broker-Dealers and Agents and for Transactions Effected by Certain Canadian Broker-Dealers |
| § 130.493. Crowdfunding Pursuant to Section 4.T of the Act - Issuers |
| § 130.494. Crowdfunding Pursuant to Section 4.T of the Act – Internet Portals |
| SUBPART E. REGISTRATION OF SECURITIES |
| § 130.501. Title of Securities |
| § 130.502. Financial Statement Requirements |
| § 130.503. Disclaimer of Control |
| § 130.505. Formal Requirements as to Consents |
| § 130.506. Consents Required in Special Cases |
| § 130.507. Application to Dispense with Consent |
| § 130.508. Consent to Use of Material Incorporated by Reference |
| § 130.510. Procedures for Registration of Securities by Coordination under Section 5.A of the Act |
| § 130.520. Procedures for Registration of Securities by Qualification under Section 5.B of the Act |
| § 130.525. Procedures for Registration of Securities by Qualification under Section 5.B(7) of the Act, Small Company Offering Registration ("SCOR") on Form U-7 |
| § 130.530. Renewal of Registration of Securities Under Section 5.E of the Act |
| § 130.531. Computation of Fees |
| § 130.532. Registration of Additional Securities Pursuant to Section 5(C) (2) of the Act |
| § 130.533. Formal Requirements for Amendments Under Section 5 of the Act |
| § 130.534. Powers to Amend or Withdraw Registration Statement |
| § 130.535. Signatures of Amendments |
| § 130.536. Delaying Amendments |
| § 130.538. Withdrawal of Registration Statement, Amendment or Exhibit Filed Under the Federal 1933 Act |
| § 130.540. Procedure with Respect to Abandoning Registration Statements, Applications for Trading Authorizations and Post-Effective Amendments |
| § 130.550. Additional Fees Under Section 5 of the Act |
| § 130.570. Legibility of Prospectuses |
| § 130.571. Presentation of Information in Prospectuses |
| § 130.572. Summaries or Outlines of Documents |
| § 130.573. Preparation of Application for Registration |
| § 130.574. Incorporation of Certain Information by Reference |
| § 130.575. Form of and Limitation Upon Incorporation by Reference |
| § 130.576. Statement Required in Prospectuses |
| § 130.577. Prospectuses Supplementing Preliminary Material Supplied Previously |
| § 130.578. Application of Amendments to this Part Governing Contents of Prospectuses |
| § 130.581. Statement as to Stabilizing Required in Prospectuses Filed Under Section 5.B of the Act |
| § 130.582. Contents of Prospectus When Two or More Registrations Are in Effect Under Section 5.B of the Act |
| § 130.590. Identifying Statements |
| § 130.591. Requirements as to Appraisals |
| § 130.592. Omission of Substantially Identical Documents |
| § 130.593. Incorporation of Exhibits by Reference |
| SUBPART F. FACE AMOUNT CERTIFICATE CONTRACTS |
| § 130.600. Preamble |
| § 130.610. Procedures for Registration of Face Amount Certificate Contracts by Coordination under Section 6.A of the Act |
| § 130.630. Renewal of Registration of Face Amount Certificate Contracts Under Section 6.F of the Act |
| § 130.650. Additional Fees Under Section 6 of the Act |
| SUBPART G. INVESTMENT FUND SHARES |
| § 130.700. Preamble |
| § 130.701. Title of Investment Fund Shares Registered Under Section 5 or 7 of the Act |
| § 130.710. Procedures for Registration of Investment Fund Shares by Coordination under Section 7.A of the Act |
| § 130.715. Amendatory Statement for the Registration of Additional Class or Classes or the Reporting of a Change in Organization or Operations Pursuant to Section 7(D) of the Act |
| § 130.730. Renewal of Registration of Investment Fund Shares Under Section 7(G) of the Act |
| § 130.750. Additional Fees Under Section 7 of the Act |
| § 130.771. Acts Which "Work or Tend to Work a Fraud or Deceit", in Connection with Offers, Sales or Dispositions of Investment Fund Shares |
| SUBPART H. REGISTRATION OF DEALERS, SALESPERSONS, INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES |
| § 130.805. Exemptions From Registration as an Investment Adviser Under Section 8.A of the Act |
| § 130.806. Acts Not Requiring a Notification Filing of a Federal Covered Investment Adviser or Registration as an Investment Adviser or Investment Adviser Representative Under Section 8 of the Act |
| § 130.810. Procedures for Registration as a Dealer Under Section 8.B of the Act |
| § 130.811. Procedures for Perfecting an Investment Adviser Exemption under Section 2.11(6) of the Act [Repealed] |
| § 130.820. Procedures for Renewal and Withdrawal from Registration as a Dealer |
| § 130.821. Reporting of Dealer Branch Office Locations and Required Fees |
| § 130.822. Examinations Deemed Satisfactory for Purposes of Determining Sufficient Knowledge of Each Principal Under Section 8.B(9)(a) of the Act Prior to Registration as a Dealer |
| § 130.823. Procedure for Requesting Waiver of Dealer, Salesperson, Investment Adviser, Investment Adviser Representative, or Principal Examination Requirements |
| § 130.824. Financial Statements to be Filed by a Registered Dealer |
| § 130.825. Records Required of Dealers and Customer Fees |
| § 130.826. Registered Dealer Net Capital Requirements |
| § 130.827. Confirmations |
| § 130.828. Notice of Materially Adverse Financial Condition Required to Be Filed With the Securities Department By a Registered Dealer |
| § 130.829. Investor Protection Requirement of a Dealer Registered Under Section 8 of the Act |
| § 130.830. Registration Exemption for Merger and Acquisition Brokers Pursuant to Section 4(I) of the Act |
| § 130.832. Examinations Deemed Satisfactory for Purposes of Determining Sufficient Knowledge Under Section 8.C(7) of the Act for Registration as a Salesperson |
| § 130.836. Hardship Exemption |
| § 130.837. Transition to Electronic Filing |
| § 130.838. Procedures for Federal Covered Investment Adviser Notification Filing and Fees Under Section 8.C-5 of the Act |
| § 130.839. Procedures for Registration as an Investment Adviser Representative Under Section 8.D-5 of the Act |
| § 130.840. Procedures for Registration as an Investment Adviser Under Section 8.D of the Act |
| § 130.841. Reporting of Investment Adviser Branch Office Locations and Required Fees |
| § 130.843. Examination and Education Program Requirements for Registration as an Investment Adviser Representative Under Section 8.D-5 of the Act |
| § 130.845. Records Required of Investment Advisers |
| § 130.846. Written Disclosure Statements of a Registered Investment Adviser |
| § 130.847. Financial and Disciplinary Information That Investment Advisers Must Disclose to Clients |
| § 130.848. Advertisements by Investment Advisers |
| § 130.849. Consumer Information Privacy Provisions |
| § 130.850. Account Transactions |
| § 130.851. Commission, Profit or Other Compensation |
| § 130.852. Compensation |
| § 130.853. Account Transactions |
| § 130.854. Use of the Term "Investment Counsel" |
| § 130.855. Use of Senior Certifications and Professional Designations |
| § 130.860. Additional Fees Under Section 8 of the Act |
| § 130.872. Procedure with Respect to Abandoned Dealer Applications |
| § 130.873. Procedure with Respect to Abandoned Investment Adviser Applications |
| § 130.874. Business Continuity and Succession Planning |
| SUBPART J. SERVICE OF PROCESS |
| § 130.1001. Service of Process upon the Secretary of State |
| SUBPART K. PROCEDURES FOR ADMINISTRATIVE HEARINGS |
| § 130.1100. Preamble |
| § 130.1101. Qualifications and Duties of the Hearing Officer |
| § 130.1102. Notice of Hearing |
| § 130.1103. Institution of a Contested Case by the Securities Department |
| § 130.1104. Requirement to File an Answer |
| § 130.1105. Amendment or Withdrawal of the Notice of Hearing |
| § 130.1106. Representation |
| § 130.1107. Special Appearance [Repealed] |
| § 130.1108. Substitution of Parties |
| § 130.1109. Failure to Appear |
| § 130.1110. Motions |
| § 130.1111. Requirements Relating to Continuances |
| § 130.1112. Rules of Evidence |
| § 130.1113. Form of Papers |
| § 130.1114. Bill of Particulars [Repealed] |
| § 130.1115. Discovery |
| § 130.1116. Examination of Witnesses |
| § 130.1117. Subpoenas |
| § 130.1118. Pre-Hearing Conferences |
| § 130.1119. Record of a Pre-Hearing Conference |
| § 130.1120. Hearings |
| § 130.1121. Record of Proceedings |
| § 130.1122. Record of Hearing |
| § 130.1123. Orders |
| § 130.1124. Burden of Proof |
| § 130.1125. Stipulations |
| § 130.1126. Open Hearings |
| § 130.1127. Corrections to the Transcript |
| § 130.1128. Imposition of Fines |
| § 130.1129. Application for Hearing to Present Newly Discovered Evidence |
| § 130.1130. Failure to Comply With Order or Rules |
| § 130.1131. Application to Vacate an Order Issued Due to Default |
| § 130.1132. Disqualification of a Hearing Officer |
| SUBPART O. EVIDENTIARY MATTERS AND NON-BINDING STATEMENTS |
| § 130.1520. Request for Non-Binding Statements |
| SUBPART P. SAVINGS PROVISIONS |
| § 130.1661. Investors Syndicate of America, Inc. |
| § 130.1662. State Bond and Mortgage Company |
| SUBPART Q. PUBLIC INFORMATION |
| § 130.1701. Inspection of Applications |
| § 130.1702. Inspection of Dealer, Salesperson and Investment Adviser Records |
| § 130.1703. Non-Public Distribution of Information |
| § 130.APPENDIX A. Uniform Consent to Service of Process |
| § 130.APPENDIX B. Uniform Application to Register Securities |
| § 130.APPENDIX C. Uniform Application for Broker-Dealer Registration |
| § 130.APPENDIX D. Subordinated Loan Agreement for Equity Capital |
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SOURCE: Filed February 23, 1977, effective March 5, 1977; amended at 5 Ill. Reg. 9139, effective August 27, 1981; amended at 6 Ill. Reg. 6455, effective May 19, 1982; codified at 6 Ill. Reg. 12674; emergency amendment at 7 Ill. Reg. 17427, effective December 31, 1983, for a maximum of 150 days; emergency expired May 31, 1984; emergency amendment at 8 Ill. Reg. 1476, effective January 18, 1984, for a maximum of 150 days; emergency expired June 17, 1984; emergency repealer at 8 Ill. Reg. 3803, effective March 14, 1984, for a maximum of 150 days; amended at 8 Ill. Reg. 13419, effective July 12, 1984; amended at 8 Ill. Reg. 13840, effective July 19, 1984; emergency amendment at 8 Ill. Reg. 13889, effective July 20, 1984, for a maximum of 150 days; emergency expired December 17, 1984; amended at 9 Ill. Reg. 208, effective December 20, 1984; emergency amendment at 10 Ill. Reg. 393, effective January 1, 1986, for a maximum of 150 days; emergency expired May 30, 1986; amended at 10 Ill. Reg. 10753, effective June 3, 1986; recodified at 10 Ill. Reg. 19554; emergency amendment at 13 Ill. Reg. 11017, effective July 1, 1989, for a maximum of 150 days; emergency expired November 28, 1989; amended at 14 Ill. Reg. 884, effective December 30, 1989; amended at 14 Ill. Reg. 5188, effective March 26, 1990; emergency amendment at 15 Ill. Reg. 14303, effective November 1, 1991, for a maximum of 150 days; amended at 16 Ill. Reg. 6000, effective March 27, 1992; amended at 20 Ill. Reg. 14185, effective October 21, 1996; amended at 21 Ill. Reg. 7523, effective May 23, 1997; amended at 21 Ill. Reg. 7770, effective May 23, 1997; amended at 21 Ill. Reg. 8415, effective June 20, 1997; emergency amendment at 21 Ill. Reg. 9828, effective July 8, 1997, for a maximum of 150 days; amended at 21 Ill. Reg. 15892, effective December 1, 1997; amended at 22 Ill. Reg. 1933, effective January 1, 1998; emergency amendment at 24 Ill. Reg. 341, effective December 31, 1999, for a maximum of 150 days; amended at 24 Ill. Reg. 7401, effective May 1, 2000; emergency amendment at 25 Ill. Reg. 973, effective January 1, 2001, for a maximum of 150 days; emergency expired May 30, 2001; amended at 25 Ill. Reg. 8817, effective July 6, 2001; amended at 26 Ill. Reg. 14843, effective September 30, 2002; amended at 27 Ill. Reg. 9490, effective June 9, 2003; emergency amendment at 29 Ill. Reg. 15087, effective September 23, 2005, for a maximum of 150 days; emergency expired February 19, 2006; emergency amendment at 30 Ill. Reg. 13009, effective July 11, 2006, for a maximum of 150 days; amended at 30 Ill. Reg. 18211, effective October 31, 2006; amended at 33 Ill. Reg. 12817, effective September 8, 2009; amended at 34 Ill. Reg. 17783, effective November 3, 2010; emergency amendment at 35 Ill. Reg. 4781, effective March 10, 2011, for a maximum of 150 days; amended at 35 Ill. Reg. 12810, effective July 14, 2011; amended at 36 Ill. Reg. 2852, effective February 8, 2012; amended at 40 Ill. Reg. 391, effective December 22, 2015; amended at 40 Ill. Reg. 13248, effective September 1, 2016; amended at 41 Ill. Reg. 451, effective December 28, 2016.
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Notation
AUTHORITY: Implementing and authorized by the Illinois Securities Law of 1953 [815 ILCS 5].