Regulation of Securities

Regulation of Securities; Revises requirements for registration of securities; requires OFR to deem applications for registration abandoned under certain circumstances; revises grounds on which office may revoke, suspend, or deny registration of securities; specifies office's powers in investigations of issuers; revises methods by which office may enter order suspending issuer's right to sell securities; revises requirements for applying for registration as dealer, associated person of dealer, or investment adviser; provides registration exemptions for private fund advisers; specifies continuing education requirements for associated persons of investment advisers & federal covered advisers; specifies requirements for certain previously registered associated persons; authorizes FSC to establish rules of conduct & prohibited business practices for intermediaries.