Oklahoma Department of Securities

Last updated

Oklahoma Department of Securities
Seal of Oklahoma.svg
Great Seal of the State of Oklahoma
Agency overview
FormedJuly 1959
Headquarters204 N. Robinson Ave, Suite 400, Oklahoma City, Oklahoma 73102
Ministers responsible
Agency executives
  • Melanie Hall, Administrator
  • Vacant, Deputy Administrator
  • Gerri Kavanaugh, General Counsel
  • Phillip Carey, Director of Operations
Parent agencyOklahoma Securities Commission
Website www.securities.ok.gov
Oklahoma Department of Securities Securities-horiz.png
Oklahoma Department of Securities

The Oklahoma Department of Securities (ODS) is a government agency of the State of Oklahoma responsible for regulating the securities industry within the state. The department licenses and oversees broker-dealers, investment advisers, and their representatives; registers securities offerings; investigates potential violations of securities laws; and provides investor education to help protect the public from fraud. [1]

Contents

The department operates under the direction of the Oklahoma Securities Commission, which appoints the Administrator of Securities and adopts rules to enforce Oklahoma’s securities laws. [2]

The agency was established in 1959 during the administration of Governor J. Howard Edmondson. [3]

Responsibilities

The Department is charged with administering and enforcing the Oklahoma Uniform Securities Act of 2004. Its core responsibilities include:

Early Securities Regulation in Oklahoma

Prior to the establishment of the Oklahoma Department of Securities in 1959, the regulation of securities in the state was managed under earlier statutes and temporary commissions. Oversight authority often fell to panels composed of existing state officials, including the State Banking Commissioner, the Secretary of State, and the State Auditor. [4]

These commissions operated under changing legal frameworks and were frequently reorganized, reflecting the ad hoc nature of securities oversight during the early 20th century. By the 1950s, the complexity of securities markets and increasing investor fraud prompted the Oklahoma Legislature to establish a dedicated regulatory agency.

Timeline of Early Regulation

Pre-1959 Commission Officials

Pre-1959 Oklahoma Securities Commissioners
NameTitle/RoleTerm StartTerm End
O.B. MotherseadBank Commissioner19241927
Joe H. StrainBank Commissioner19231923
C.C. ChildersState Auditor19231926
R.A. SneedSecretary of State19231926
Roy WalcottBank Commissioner19221923
Fred G. DennisBank Commissioner19201922
Joe S. MorrisSecretary of State19201922
Frank C. CarterState Auditor19201922
Lewis TerryUnknown [5] 19201926

Organization

The Oklahoma Department of Securities is structured as follows:

Securities Commission

Oklahoma Securities Commission Commission.Securities.logo.png
Oklahoma Securities Commission

The Securities Commission is the governing body of the department and consists of five members:

Commissioners are appointed by the Governor of Oklahoma with the advice and consent of the Oklahoma Senate and serve staggered six-year terms.

The Commission adopts administrative rules, establishes policy, and appoints the Administrator of Securities, who manages daily operations of the department. [6]

Current and Former Administrators

Since its establishment in 1959, the Oklahoma Department of Securities has been led by a series of Administrators appointed by the Commission. These individuals have overseen the enforcement of state securities laws and investor protection efforts.

Administrators of the Oklahoma Department of Securities
NameTitleTerm StartTerm End
Hollis HamptonInterim AdministratorAugust 1959October 1959
Hugh F. OwensAdministratorOctober 1959March 1964
Carl G. EnglingAdministratorJune 1964October 1968
Wm. G. FisherAdministratorFebruary 1969January 1971
Patrick C. RyanAdministratorFebruary 1971November 1971
Wm. G. FisherAdministratorDecember 1971November 1974
John M. McNerneyActing AdministratorNovember 1974September 1975
Bruce W. DayAdministratorSeptember 1975August 1978
Frank E. Marley Sr.AdministratorAugust 1978January 1983
P. David NewsomeAdministratorMay 1983June 1984
C. Raymond Patton Jr.AdministratorJuly 1984June 1986
Susan E. BryantAdministratorJune 1986March 1991
Irving L. FaughtAdministratorApril 1991August 2019
Melanie B. HallAdministratorOctober 2019Present

Current and Former Commission Members

Since its creation, the Oklahoma Securities Commission has been composed of members appointed by the Governor and confirmed by the Senate, representing legal, financial, accounting, and securities expertise.

Commission Members of the Oklahoma Securities Commission
NameTerm StartTerm End
Stuart J. SanderJuly 2025July 2031
David T. StanleyJuly 2024July 2030
Michael C. MordyJuly 2023July 2029
Randa VernonJuly 2021July 2027
Robert M. NevilleJuly 2019July 2025
David F. AboudOctober 2017July 2023
P. David Newsome Jr.July 2017July 2023
Nancy K. HydeJuly 2015July 2021
Thompson S. PhillipsJuly 2017April 2018
William O. JohnstoneMay 2003July 2013
Armand PaliottaSeptember 2005July 2011
Wesley D. Brantley Jr.April 2003July 2009
John A. ShelleyMay 2001May 2003
Steven T. LedgerwoodMay 2000July 2005
Don CriswellMay 1998July 2003
J. Philip PattersonJune 1994March 2000
Charles E. NewtonOctober 1993July 2017
Mick ThompsonOctober 1992Present
Hank BradleySeptember 1992January 2001
Gail Miles-HarrisonJuly 1991July 1997
Paul S. LovoiJune 1991July 1997
John MasseyJune 1990September 1992
Douglas L. JacksonApril 1988May 1994
Wayne OsbornMarch 1987August 1992
Lonnie L. FarmerApril 1985April 1990
William H. CrawfordAugust 1983January 1984
Robert Y. EmpieSeptember 1979May 1987
William C. McGrewSeptember 1979May 1986
Don Van HornDecember 1978September 1979
Joe B. McMillin Jr.August 1975May 1987
Harry E. LeonardNovember 1973October 1978
Walter Gene MoffittMay 1973July 1979
James M. WilsonJanuary 1972July 1983
John D. WilliamsAugust 1969July 1975
Earl B. Mitchell Jr.August 1969July 1975
Herbert F. HewettFebruary 1966July 1969
J. Robert MeekJuly 1965May 1971
John L. GoodeNovember 1963January 1966
Carl B. SebringJuly 1959June 1969
Arthur M. FosterJuly 1959June 1965
Charles E. McCuneJuly 1959November 1972
Paul C. DuncanJuly 1959October 1963

Budget

The Department of Securities is not funded by annual appropriations from the Oklahoma Legislature. Instead, it operates entirely on licensing and registration fees collected from the regulated industry.

See also

References

  1. "Oklahoma Uniform Securities Act of 2004" . Retrieved June 3, 2025.
  2. "Administrative Rules" (PDF). Oklahoma Secretary of State. Retrieved June 3, 2025.
  3. Oklahoma Session Laws, 1959. State of Oklahoma. 1959. Retrieved June 3, 2025.
  4. "History of Securities Regulation in Oklahoma" . Retrieved June 3, 2025.
  5. Appeared in the FY 1920 Annual Report in a secretarial capacity, but his official title is unconfirmed.
  6. "Commission Meeting Reports". Oklahoma Department of Securities. Retrieved June 3, 2025.