OAR 441-175-0175
Internet Communications

(1)

Scope of rule. This rule applies to dissemination by firms or individuals of information about securities-related services or products on the Internet, except for any firms or individuals located in Oregon. As used in this section, the term “Internet” is to be construed liberally to include all proprietary or common carrier electronic systems or similar media.

(2)

Solely disseminating information on the Internet concerning securities-related services or products offered by a firm or individual shall not be deemed to be “transacting business” in this state for purposes of ORS 59.165 (Licensing of broker-dealers, investment advisers and salespersons required)(1), provided the Internet communication:

(a)

Is limited to general information on products or services;

(b)

Prominently and conspicuously states that the firm or individual may only transact business in this state if first licensed or excluded from licensing requirements;

(c)

Clearly states that follow-up, individualized responses to persons in this state using any contact method by such firm or individual that involve either the effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, will not be made absent compliance with Oregon licensing requirements or a valid exclusion from licensing; and

(d)

Contains mechanisms, including and without limitation, technical firewalls or other implemented policies and procedures, designed reasonably to ensure that prior to any subsequent, direct communication with prospective customers or clients in this state, said firm or individual has completed any applicable licensing or notice filing process in this state, or qualifies for an exclusion from such requirement.

(3)

In the case of an individual who is a broker-dealer salesperson or an investment adviser representative, the Internet communication must further:

(a)

Be authorized by the firm with which the individual is affiliated;

(b)

Clearly disclose the affiliation with the broker-dealer or investment adviser firm;

(c)

Be within the scope of authority granted to the individual by his or her firm; and

(d)

Be reviewed and approved for content by a principal of the broker-dealer or investment adviser firm.

Source: Rule 441-175-0175 — Internet Communications, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=441-175-0175.

441‑175‑0002
Fees for Licensing or Notice Filing of Firms and Individuals 441‑175‑0010
Definitions 441‑175‑0015
When Licensing Application Deemed Abandoned 441‑175‑0020
Exclusion from Definition of “Broker-Dealer” 441‑175‑0030
Exclusion from Definition of “Investment Adviser” 441‑175‑0040
Exclusion from Definition of “Salesperson” 441‑175‑0041
Exclusion from Definition of “Investment Adviser Representative” 441‑175‑0046
Federal Covered Investment Advisor Representative 441‑175‑0050
Rules of Fair Practice for Real Estate Licensees 441‑175‑0055
Rules of Fair Practice for Mortgage Banker and Mortgage Broker Licensees 441‑175‑0060
Licensing Rule Implementing, 1997 Oregon Laws Chapter 772 and the National Markets Improvement Act of 1996 441‑175‑0070
General Licensing Rules for Broker-Dealers, Investment Advisers and Salespersons, Succession and Acquisition 441‑175‑0080
Applications for Licensing of Broker-Dealers 441‑175‑0085
Limited Licensing of Canadian Broker-Dealers and Salespersons 441‑175‑0100
Applications for Licensing of Investment Advisers 441‑175‑0105
Material Changes, Amendments and Notice of Civil and Criminal Actions 441‑175‑0110
Surety Bond 441‑175‑0120
Licensing of Salespersons or Representatives to Non-FINRA Broker-Dealers, State or Federal Covered Investment Advisers, Issuers and Owners of Securities 441‑175‑0130
Licensing of Salespersons to FINRA Broker-Dealers 441‑175‑0140
Disqualification from Automatic Licensing 441‑175‑0150
Termination or Cancellation of Salesperson or Investment Adviser Representative License 441‑175‑0160
Renewal of FINRA Broker-Dealer and Salesperson Licenses 441‑175‑0165
Renewal of the Licenses of Non-FINRA Broker-Dealers or State Investment Advisers, and Their Salespersons or Investment Adviser Representatives 441‑175‑0171
Use of Trade Name or Assumed Business Name 441‑175‑0175
Internet Communications 441‑175‑0185
Errors and Omissions Coverage under ORS 59.175
Last Updated

Jun. 8, 2021

Rule 441-175-0175’s source at or​.us