1. (a) Application of antifraud provisions. Sales literature used in any manner in connection with the offer and sale of securities or the offer of brokerage or advisory services is subject to the provisions of Section 1-501 and/or 1-502 of the Securities Act, whether or not such sales literature is required to be filed pursuant to Section 1-504 of the Securities Act or 660:11-13-3. Further, sales literature filed with the Department is subject to the provisions of Sections 1-501 and/or 1-502 and 1-505 of the Securities Act. Sales literature should be prepared accordingly and should not contain any ambiguity, exaggeration or other misstatement or omission of material fact, which might confuse or mislead an investor.

2. (b) Prohibited disclosures.

   1. (1) Unless stating that the Commission, Administrator or Department has not approved the merits of the securities offering or the sales literature, no sales literature shall contain a reference to the Commission or the Department unless such reference is specifically required in a Departmental Prospectus Guide or requested by the Administrator.
   2. (2) An investment adviser is prohibited from publishing, circulating or distributing any sales literature that does not comply with Rule 206(4)-1 under the Advisers Act [17 C.F.R. §275.206(4)-1] as effective April 15, 2022.

Added at 21 Ok Reg 2532, eff 7-1-04

Amended at 30 Ok Reg 2066, eff 8-1-13

Amended at 38 Ok Reg 2503, eff 11-1-21

Amended at 42 Ok Reg, Number 20, effective 8-15-25