441-035-0160 - Use of the Internet by Third Party Platform Providers

441-035-0160. Use of the Internet by Third Party Platform Providers

A third party platform provider may post advertising materials allowed under OAR 441-035-0130 and offering documents under 441-035-0120 for OIO securities, under the following conditions:

(1) The platform is intended to host multiple OIO issuers;

(2) The platform does not solicit, sell, or effect transactions in securities unless it is a registered broker-dealer under ORS 59.015(a). However, a third party platform may:

(a) Allow an investor to transmit investor funds to an unaffiliated third party that is licensed or authorized to transmit money;

(b) Allow an investor to transmit funds to the issuer; or

(c) Direct an unaffiliated third party to transmit investor funds to the issuer pursuant to an written agreement;

(d) Collect certification and documentary evidence regarding an interested party's residency required by OAR 441-035-0090 provided the third party platform provider complies with the records requirement in 441-035-0220.

(3) The platform does not offer investment advice, endorse, or solicit for any issuer on the platform;

(4) The platform does not engage in secondary trading of an issuer's securities; and

(5) A platform only charges a flat fee for the upkeep of the website and may not obtain any security interest in the issuer in return for posting information on the platform. Platforms may offer and charge fees for add-on services not directly related to the offer and sale of securities sold in reliance on the OIO.

(FCS 1-2015, f. & cert. ef. 1-15-15; FSR 12-2017, amend filed 12/28/2017, effective 1/1/2018)

Statutory/Other Authority: 17 CFR ยง 230.147A & ORS 59.035

Statutes/Other Implemented: ORS 59.035

The following state regulations pages link to this page.