How Do I? Securities

Know if the Security is Properly Registered or Blue Skyed
For more information on Security Registration or Blue Sky Registrations, call the Illinois Securities Department's Registration Division at 800-628-7937.

Find Out About Dual Registration
Illinois will allow dual registration for a salesperson if both employing firms give consent and the U-4 form has been so amended. For more information about dual registration, please visit the Publications section.

Take a Securities Exam
Securities exams are administered by the Financial Industry Regulatory Authority (FINRA). To sit for an examination, your employing firm must file the proper application form and pay the testing fee to the FINRA on your behalf.

Request that the Illinois Securities Department Sponsor My Exam
The Illinois Securities Department will sponsor individuals to take the examination if an application has been filed with the Department to register as a non-FINRA (Financial Industry Regulatory Authority) dealer, investment adviser or salesperson of an issuer.

Can officers and directors of an issuer sell in Illinois?
Directors cannot, but policy-making officers who do not receive a commission, remuneration or compensation of any kind, directly or indirectly, on behalf of the sale of securities, can generally sell without registration on a limited basis.

Obtain Information About the Value of Old Stock and/or Find Out if the Corporation Still Exists
To find out if a company is still incorporated in Illinois, please call the Business Services Department at 217-782-7880. Additional resources include:

Find Information if I am a Victim of Securities Fraud
Call the Illinois Securities Department Enforcement Division at 217-782-2256 or 800-628-7937.

Get Money from an Investment Back
The Illinois Securities Law does not give the department the authority to order rescission, or a return of your investment money. In some cases, the subject of an investigation or administrative prosecution will agree to make a rescission offer, but you should not expect a rescission offer to be made voluntarily. You should always consult your own attorney to determine if you have a civil remedy available, and arbitration may also be an option. Rescission and other forms of relief may be sought pursuant to Section 13 of the Illinois Securities Law.

Find Out the Status of an Investigation/Prosecution
There is no typical timeframe for the resolution of complaints or inquiries. In some instances, the complaint does not fall within the jurisdiction of the Illinois Securities Department, and the case file will be closed or referred to another agency. In any event, the Department will attempt to keep you informed of the progression/disposition of the case. In most instances, testimony from the person who submitted the complaint at a formal administrative hearing is required for the Department to satisfy its burden of proof. The Department's Enforcement staff will review the case with you in preparation for the hearing.

Ensure my Salesperson is Not Soliciting Me to Purchase a Fraudulent Investment
Unfortunately, you can never be 100 percent certain that even a registered salesperson is not selling fraudulent investments. However, sales-persons should follow certain procedures. For example, sales-persons who recommend investments to customers are required to obtain suitability information from customers. Also, monthly or quarterly investment statements should come from the registered securities dealer or their clearing firm for most securities or in the case of mutual funds from the mutual fund company. Statements should not come from either the salesperson or an unregistered company of the salesperson.

Find Out if a Securities dealer and/or Salesperson is Properly Registered/Licensed to do Business in Illinois and If There Are Any Disciplinary Records
Call the Illinois Securities Department, toll free at 800-628-7937. Consumers outside Illinois may contact their state’s securities regulator or the Financial Industry Regulatory Authority (FINRA) or check the FINRA Web site.

The Secretary of State, Illinois Securities Department or their information providers shall not be liable regardless of the cause or duration, for any errors, inaccuracies, omissions or untimeliness of the information, or for any delay or interruption in the transmission thereof to the user, or for any claims or losses arising therefrom.