Oklahoma Department of Securities
The Oklahoma Department of Securities 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.
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.
The agency was established in 1959 during the administration of Governor J. Howard Edmondson.
Responsibilities
The Department is charged with administering and enforcing the Oklahoma Uniform Securities Act of 2004. Its core responsibilities include:- Registering securities offered or sold in Oklahoma
- Licensing broker-dealers, agents, investment advisers, and representatives
- Investigating complaints and suspected fraud
- Enforcing compliance through administrative and legal action
- Promoting investor education and financial literacy
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.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
1920s–1930s: Securities oversight assigned to a multi-member commission including the Bank Commissioner, State Auditor, and Secretary of State.1940s–1950s: Continued regulation through temporary statutes and informal enforcement under other financial regulatory bodies.1959: Department of Securities established as a standalone agency under new legislation.Pre-1959 Commission Officials
| Name | Title/Role | Term start | Term end |
| O.B. Mothersead | Bank Commissioner | 1924 | 1927 |
| Joe H. Strain | Bank Commissioner | 1923 | 1923 |
| C.C. Childers | State Auditor | 1923 | 1926 |
| R.A. Sneed | Secretary of State | 1923 | 1926 |
| Roy Walcott | Bank Commissioner | 1922 | 1923 |
| Fred G. Dennis | Bank Commissioner | 1920 | 1922 |
| Joe S. Morris | Secretary of State | 1920 | 1922 |
| Frank C. Carter | State Auditor | 1920 | 1922 |
| Lewis Terry | Unknown | 1920 | 1926 |
Organization
The Oklahoma Department of Securities is structured as follows:- Securities Commission
- *Administrator
- **Deputy Administrator
- ***Professional Registrations and Compliance Division – Manages licensing and regulatory compliance for securities professionals.
- ***Corporate Finance Division – Handles registration of securities offerings and reviews related filings.
- ***Investigations and Enforcement Division – Investigates complaints and enforces compliance with securities laws.
- ***Investor Education Division – Educates the public on financial safety and fraud prevention.
Securities Commission
The Securities Commission is the governing body of the department and consists of five members:- One member must be a licensed attorney
- One must be a certified public accountant
- One must be an officer of a bank or trust company
- One must be a member of the securities industry
- The Oklahoma State Banking Commissioner serves as the fifth voting member
The Commission adopts administrative rules, establishes policy, and appoints the Administrator of Securities, who manages daily operations of the department.
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.| Name | Title | Term start | Term end |
| Hollis Hampton | Interim Administrator | August 1959 | October 1959 |
| Hugh F. Owens | Administrator | October 1959 | March 1964 |
| Carl G. Engling | Administrator | June 1964 | October 1968 |
| Wm. G. Fisher | Administrator | February 1969 | January 1971 |
| Patrick C. Ryan | Administrator | February 1971 | November 1971 |
| Wm. G. Fisher | Administrator | December 1971 | November 1974 |
| John M. McNerney | Acting Administrator | November 1974 | September 1975 |
| Bruce W. Day | Administrator | September 1975 | August 1978 |
| Frank E. Marley Sr. | Administrator | August 1978 | January 1983 |
| P. David Newsome | Administrator | May 1983 | June 1984 |
| C. Raymond Patton Jr. | Administrator | July 1984 | June 1986 |
| Susan E. Bryant | Administrator | June 1986 | March 1991 |
| Irving L. Faught | Administrator | April 1991 | August 2019 |
| Melanie B. Hall | Administrator | October 2019 | Present |
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.| Name | Term start | Term end |
| Stuart J. Sander | July 2025 | July 2031 |
| David T. Stanley | July 2024 | July 2030 |
| Michael C. Mordy | July 2023 | July 2029 |
| Randa Vernon | July 2021 | July 2027 |
| Robert M. Neville | July 2019 | July 2025 |
| David F. Aboud | October 2017 | July 2023 |
| P. David Newsome Jr. | July 2017 | July 2023 |
| Nancy K. Hyde | July 2015 | July 2021 |
| Thompson S. Phillips | July 2017 | April 2018 |
| William O. Johnstone | May 2003 | July 2013 |
| Armand Paliotta | September 2005 | July 2011 |
| Wesley D. Brantley Jr. | April 2003 | July 2009 |
| John A. Shelley | May 2001 | May 2003 |
| Steven T. Ledgerwood | May 2000 | July 2005 |
| Don Criswell | May 1998 | July 2003 |
| J. Philip Patterson | June 1994 | March 2000 |
| Charles E. Newton | October 1993 | July 2017 |
| Mick Thompson | October 1992 | Present |
| Hank Bradley | September 1992 | January 2001 |
| Gail Miles-Harrison | July 1991 | July 1997 |
| Paul S. Lovoi | June 1991 | July 1997 |
| John Massey | June 1990 | September 1992 |
| Douglas L. Jackson | April 1988 | May 1994 |
| Wayne Osborn | March 1987 | August 1992 |
| Lonnie L. Farmer | April 1985 | April 1990 |
| William H. Crawford | August 1983 | January 1984 |
| Robert Y. Empie | September 1979 | May 1987 |
| William C. McGrew | September 1979 | May 1986 |
| Don Van Horn | December 1978 | September 1979 |
| Joe B. McMillin Jr. | August 1975 | May 1987 |
| Harry E. Leonard | November 1973 | October 1978 |
| Walter Gene Moffitt | May 1973 | July 1979 |
| James M. Wilson | January 1972 | July 1983 |
| John D. Williams | August 1969 | July 1975 |
| Earl B. Mitchell Jr. | August 1969 | July 1975 |
| Herbert F. Hewett | February 1966 | July 1969 |
| J. Robert Meek | July 1965 | May 1971 |
| John L. Goode | November 1963 | January 1966 |
| Carl B. Sebring | July 1959 | June 1969 |
| Arthur M. Foster | July 1959 | June 1965 |
| Charles E. McCune | July 1959 | November 1972 |
| Paul C. Duncan | July 1959 | October 1963 |