(A) An original license, or a renewal thereof, applied for by a dealer or salesperson of securities, or by an investment adviser, investment adviser representative, bureau of workers' compensation chief investment officer, state retirement system investment officer, or portal operator as defined in section 1707.05 of the Revised Code may be refused, and any such license granted may be suspended and, after notice and hearing in accordance with Chapter 119. of the Revised Code, may be revoked, by the division of securities, if the division determines that the applicant or the licensed dealer, salesperson, investment adviser, investment adviser representative, bureau of workers' compensation chief investment officer, or state retirement system investment officer:

1. (1) Is not of good business repute;
2. (2) Is conducting an illegitimate or fraudulent business;
3. (3) Is, in the case of a dealer, investment adviser, or portal operator, insolvent;
4. (4) Has knowingly violated any provision of sections 1707.01 to 1707.50 of the Revised Code, or any regulation or order made thereunder;
5. (5) Has knowingly made a false statement of a material fact or an omission of a material fact in an application for a license, in a description or application that has been filed, or in any statement made to the division under such sections;
6. (6) Has refused to comply with any lawful order or requirement of the division under section 1707.23 of the Revised Code;
7. (7) Has been guilty of any fraudulent act in connection with the sale of any securities or in connection with acting as an investment adviser, investment adviser representative, bureau of workers' compensation chief investment officer, state retirement system investment officer, or portal operator;
8. (8) Conducts business in purchasing or selling securities at such variations from the existing market as in the light of all the circumstances are unconscionable;
9. (9) Conducts business in violation of such rules and regulations as the division prescribes for the protection of investors, clients, or prospective clients;

10. (10)

    1. (a) Has failed to furnish to the division any information with respect to the purchases or sales of securities within this state that may be reasonably requested by the division as pertinent to the protection of investors in this state.
    2. (b) Has failed to furnish to the division any information with respect to acting as an investment adviser, investment adviser representative, bureau of workers' compensation chief investment officer, state retirement system investment officer, or portal operator within this state that may be reasonably requested by the division.

(F)

1. (1) The suspension or revocation of the dealer's license suspends the licenses of all the dealer's salespersons.
2. (2) The suspension or revocation of the investment adviser's license suspends the licenses of all the investment adviser's investment adviser representatives. The suspension or revocation of an investment adviser's registration under section 203 of the "Investment Advisers Act of 1940," 15 U.S.C. 80b-3, suspends the licenses of all the investment adviser's investment adviser representatives.