Ohio § 1707.23

§ 1707.23.

Whenever it appears to the division of securities, from its files, upon complaint,

or otherwise, that any person has engaged in, is engaged in, or is about to engage

in any practice declared to be illegal or prohibited by this chapter or rules adopted

under this chapter by the division, or defined as fraudulent in this chapter or rules

adopted under this chapter by the division, or any other deceptive scheme or practice

in connection with the sale of securities, or acting as a dealer, a salesperson, an

investment adviser, investment adviser representative, bureau of workers' compensation

chief investment officer, state retirement system investment officer, or portal operator

as defined in section 1707.05 of the Revised Code or when the division believes it to be in the best interests of the public and necessary

for the protection of investors, the division may do any of the following: (A) Require any person to file with it, on such forms as it prescribes, an original or

additional statement or report in writing, under oath or otherwise, as to any facts

or circumstances concerning the issuance, sale, or offer for sale of securities within

this state by the person, as to the person's acts or practices as a dealer, a salesperson,

an investment adviser, investment adviser representative, bureau of workers' compensation

chief investment officer, state retirement system investment officer, or portal operator

within this state, and as to other information as it deems material or relevant thereto; (B) Examine any investment adviser, investment adviser representative, state retirement

system investment officer, bureau of workers' compensation chief investment officer,

or any seller, dealer, salesperson, or issuer of any securities, or any portal operator,

and any of their agents, employees, partners, officers, directors, members, or shareholders,

wherever located, under oath;  and examine and produce records, books, documents,

accounts, and papers as the division deems material or relevant to the inquiry; (C) Require the attendance of witnesses, and the production of books, records, and papers,

as are required either by the division or by any party to a hearing before the division,

and for that purpose issue a subpoena for any witness, or a subpoena duces tecum to

compel the production of any books, records, or papers.  The subpoena shall be served by personal service or by certified mail, return receipt

requested.  If the subpoena is returned because of inability to deliver, or if no return is

received within thirty days of the date of mailing, the subpoena may be served by

ordinary mail.  If no return of ordinary mail is received within thirty days after the date of mailing,

service shall be deemed to have been made.  If the subpoena is returned because of inability to deliver, the division may designate

a person or persons to effect either personal or residence service upon the witness.  The person designated to effect personal or residence service under this division

may be the sheriff of the county in which the witness resides or may be found or any

other duly designated person.  The fees and mileage of the person serving the subpoena shall be the same as those

allowed by the courts of common pleas in criminal cases, and shall be paid from the

funds of the division.  Fees and mileage for the witness shall be determined under section 119.094 of the Revised Code , and shall be paid from the funds of the division upon request of the witness following

the hearing. (D) Initiate criminal proceedings under section 1707.042 or 1707.44 of the Revised Code or rules adopted under those sections by the division by laying before the prosecuting

attorney of the proper county any evidence of criminality which comes to its knowledge;

 and in the event of the neglect or refusal of the prosecuting attorney to prosecute

such violations, or at the request of the prosecuting attorney, the division shall

submit the evidence to the attorney general, who may proceed in the prosecution with

all the rights, privileges, and powers conferred by law on prosecuting attorneys,

including the power to appear before grand juries and to interrogate witnesses before

such grand juries. (E) Require any dealers immediately to furnish to the division copies of prospectuses,

circulars, or advertisements respecting securities that they publish or generally

distribute, or require any investment advisers immediately to furnish to the division

copies of brochures, advertisements, publications, analyses, reports, or other writings

that they publish or distribute; (F) Require any dealers to mail to the division, prior to sale, notices of intention

to sell, in respect to all securities which are not exempt under section 1707.02 of the Revised Code , or which are sold in transactions not exempt under section 1707.03 or 1707.04 of the Revised Code ; (G) Issue and cause to be served by certified mail upon all persons affected an order

requiring the person or persons to cease and desist from the acts or practices appearing

to the division to constitute violations of this chapter or rules adopted under this

chapter by the division.  The order shall state specifically the section or sections of this chapter or the

rule or rules adopted under this chapter by the division that appear to the division

to have been violated and the facts constituting the violation.  If after the issuance of the order it appears to the division that any person or

persons affected by the order have engaged in any act or practice from which the person

or persons shall have been required, by the order, to cease and desist, the director

of commerce may apply to the court of common pleas of any county for, and upon proof

of the validity of the order of the division, the delivery of the order to the person

or persons affected, and of the illegality and the continuation of the acts or practices

that are the subject of the order, the court may grant an injunction implementing

the order of the division. (H) Issue and initiate contempt proceedings in this state regarding subpoenas and subpoenas

duces tecum at the request of the securities administrator of another state, if it

appears to the division that the activities for which the information is sought would

violate this chapter if the activities had occurred in this state. (I) The remedies provided by this section are cumulative and concurrent with any other

remedy provided in this chapter, and the exercise of one remedy does not preclude

or require the exercise of any other remedy.