1.

 Objective of uniformity.

 The administrator shall, in its discretion, cooperate, coordinate, consult, and, subject to section 502.607, share records and information with the securities regulator of another state, Canada, a Canadian province or territory, a foreign jurisdiction, the securities and exchange commission, the United States department of justice, the commodity futures trading commission, the federal trade commission, the securities investor protection corporation, a self-regulatory organization, a national or international organization of securities regulators, a federal or state banking and insurance regulator, and a governmental law enforcement agency to effectuate greater uniformity in securities matters among the federal government, self-regulatory organizations, states, and foreign governments.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Iowa Code 502.608

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Rule: includes "regulation". See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • United States: includes all the states. See Iowa Code 4.1
 2.

 Policies to consider.

 In cooperating, coordinating, consulting, and sharing records and information under this section and in acting by rule, order, or waiver under this chapter, the administrator shall, in its discretion, take into consideration in carrying out the public interest, all of the following general policies:

 a. Maximizing effectiveness of regulation for the protection of investors.
 b. Maximizing uniformity in federal and state regulatory standards.
 c. Minimizing burdens on the business of capital formation, without adversely affecting essentials of investor protection.
 3.

 Subjects for cooperation.

 The cooperation, coordination, consultation, and sharing of records and information authorized by this section includes all of the following:

 a. Establishing or employing one or more designees as a central depository for registration and notice filings under this chapter and for records required or allowed to be maintained under this chapter.
 b. Developing and maintaining uniform forms.
 c. Conducting a joint examination or investigation.
 d. Holding a joint administrative hearing.
 e. Instituting and prosecuting a joint civil or administrative proceeding.
 f. Sharing and exchanging personnel.
 g. Coordinating registrations under sections 502.301 and 502.401 through 502.404 and exemptions under section 502.203.
 h. Sharing and exchanging records, subject to section 502.607.
 i. Formulating rules, statements of policy, guidelines, forms, and interpretative opinions and releases.
 j. Formulating common systems and procedures.
 k. Notifying the public of proposed rules, forms, statements of policy, and guidelines.
 l. Attending conferences and other meetings among securities regulators, which may include representatives of governmental and private sector organizations involved in capital formation, deemed necessary or appropriate to promote or achieve uniformity.
 m. Developing and maintaining a uniform exemption from registration for small issuers, and taking other steps to reduce the burden of raising investment capital by small businesses.
  Previous section
Next section  
 Chapter 502 Contents