08/10/2023 | Press release | Distributed by Public on 08/10/2023 11:44
Aug. 10, 2023
Salem - The Oregon Division of Financial Regulation (DFR) continues to fight for consumers and investors with the passage of House Bill 2274, which bolsters the division's enforcement tools in dealing with securities fraud.
Oregon securities law currently employs three core mechanisms to shield investors from potential harm:
HB 2274, which the Oregon Legislature passed in the 2023 session and Gov. Tina Kotek recently signed into law, has two key provisions to enable DFR to better protect consumers and investors:
HB 2274 also includes provisions to enhance DFR's oversight and enforcement authority over the securities industry, including requiring prompt and truthful responses from subjects under investigation for securities violations.
"House Bill 2274 will lead to more effective enforcement of the Oregon securities laws and contribute to a safer investment environment for consumers and investors across the state," said DFR Administrator TK Keen. "This bill is a big win in giving us the tools needed to protect vulnerable people and take on fraud."
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About Oregon DFR: The Division of Financial Regulation is part of the Department of Consumer and Business Services, Oregon's largest business regulatory and consumer protection agency. Visit dfr.oregon.gov and www.dcbs.oregon.gov.