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Office of Securities

The Office of Securities protects Maine investors by investigating and prosecuting violations of the securities laws; licensing broker-dealers, agents, investment advisers, and investment adviser representatives; and reviewing registration statements and exemption filings for securities issuers that are seeking to sell in Maine.

The Office of Securities will be closed Thursday & Friday, November 28th & 29th, in observance of the

Thanksgiving Holiday.

ALERT: New Law Becomes Effective: An Act to Protect Vulnerable Adults from Financial Exploitation

An Act to Protect Vulnerable Adults from Financial Exploitation was signed into law on April 2, 2019, and became effective on September 19, 2019. The law requires "qualified individuals," who include Broker-Dealer Agents, Investment Adviser Representatives, and people who serve in a supervisory, compliance, or legal capacity for a Broker-Dealer or Investment Adviser, to report to the Office of Securities and to Adult Protective Services suspected cases of financial exploitation of a vulnerable adult. Firms may delay disbursements believed to be in furtherance of financial exploitation and may disclose information to a third-party previously designated by the vulnerable adult. Firms are provided immunity from administrative and civil liability for actions consistent with the law. A copy of the law is available here.

ALERT: Proposed Rulemakings to Amend Broker-Dealer and Agent Licensing and Investment Adviser Licensing Rules

 

The Office of Securities has proposed amending the Broker-Dealer and Agent Licensing rule, Ch. 504, and the Investment Adviser Licensing rule, Ch. 515, to update references to FINRA's examination program and to make the use of a client's unique identifying information to access a client's account a dishonest and unethical practice. Hearings on the proposals have not been scheduled, although hearings will be held if requested by five or more interested persons, as required by 5 M.R.S. § 8052(1). Written comments on one or both of the proposals, or requests for a hearing, may be submitted to Judith M. Shaw, Securities Administrator, Maine Office of Securities, 121 State House Station, Augusta, ME 04333-0121 and must be received no later than 4:30 p.m. on Tuesday, September 3, 2019. Copies of the proposed amendments and notices of the rulemakings can be found below.

INVESTOR ALERT
Be an Informed Investor:


For more information, take a look at our investor education brochures.

ALERT: The Securities Administrator Issues Interim Order Requiring Compliance with Updated FINRA Examination Requirements

 

The Securities Administrator has issued an Interim Order requiring applicants who rely on FINRA examinations for licensure in Maine to comply with the updated FINRA examination requirements that went into effect on October 1, 2018. The Order clarifies that compliance with FINRA's current examination structure is required until rulemaking that updates Maine's licensing rules can be completed. A copy of the Order and a link to FAQs are below.

ALERT: Rule Requiring Notice Filings and Fees for Federal Crowdfunding Offerings is Effective as of June 16, 2017.

Below are the Basis Statement, the Final Rule, and Form U-CF, the uniform form for the notice filing.

Resources for Fund-ME Filers

Industry Guidance

 

What Every Small Business Should Know About:

 

News and Alerts

  • Military & Families Resource Fair
  • Maine Securities Administrator Announces 10 Year Sentence in Elder Financial Exploitation Case
  • Maine Securities Administrator Announces Conviction in Elder Financial Exploitation Case
  • Maine Securities Administrator Finalizes $19.4 Million Agreement with Merrill Lynch Regarding Maines NextGen College Investing Plan
  • Securities Administrator Reminds Investors to Approach Binary Options with Caution; Issues Cease and Desist Order Against Overseas Company
  • Maine Securities Administrator Announces Sentencing in Case of Theft and Securities Fraud
  • In Highlighting Elder Abuse Awareness Day, State Officials Urge Mainers to Report Suspected Cases of Financial Exploitation
  • Maines Office of Securities Announces First Fund-ME Crowdfunding Offering in Maine -- Fund-ME Provides New and Existing Businesses with Opportunity to Obtain Investments Needed to Start or Expand Operations
  • In Highlighting Elder Abuse Awareness Day, Governor LePage and State Officials Urge Mainers to Report Suspected Cases of Abuse
  • Governor and Department of Professional and Financial Regulation Highlight Upcoming 'Fostering Financial Education in Maine Schools Conference
  • State Officials Announce Sentencing in Case of Securities Fraud, Forgery and Other Crimes

    • Last Updated: November 12, 2019