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    Governor Proposes To Expand Department Of Business Oversight Authority And Funding

    Last week, Governor Gavin Newsom delivered his proposed budget for California's 2020-2021 fiscal year.  The Governor is proposing to rename the Department of Business Oversight as the Department of Financial Protection and Innovation as of the...

    Commissioner of Business Oversight, Department of Business Oversight

    Governor Appoints New Commissioner Of Business Oversight

    Governor Gavin Newsom recently announced the appointment of Commissioner Jan Owen's successor at the Department of Business Oversight:

    Commissioner of Business Oversight

    Confirmation In California

    As in the federal system, gubernatorial appointees to many California state agencies and departments are subject to confirmation by the Senate.  Cal. Gov't Code § 1322.  There are, however, a number of important differences between the federal and...

    Commissioner of Business Oversight

    Corp Fin's New Rule 701 C&DI And California's Compensation Plan Exemption

    Yesterday, Broc Romanek reported that Corp Fin has published a new C&DI addressing the permissibility of electronic delivery of disclosures under Rule 701(e).  Readers will recall that Rule 701 is an exemption from the registration requirements of...

    California Securities Laws, safeguards, exemption, Commissioner of Business Oversight, compensatory plan, Rule 260.140.46, Rule 701(e), Section 25102(o)

    A Permit To Negotiate - Really?

    It is sometimes forgotten that the California Corporate Securities Law of 1968 makes it unlawful to either offer or sell a security in California in an issuer transaction unless that the sale has been qualified or exempt from or not subject to...

    California Securities Laws, negotiating permit, Uncategorized, 35 persons, Commissioner of Business Oversight, exempt, qualification, qualified, Rule 260.102.1, section 25110

    California Finders Exemption Regulations Are Now Effective

    The Commissioner of Business Oversight's final regulations implementing a new exemption for finders from the broker-dealer provisions of the Corporate Securities Law took effect on June 21, 2017.  See 10 CCR §§ 260.211.4, 260.211.5, 260.211.6 and...

    broker-dealer, Broker-Dealers, Section 25206.1, exemption, 260.211.4, 260.211.5, 260.211.6, 260.211.7, AB 667, Commissioner of Business Oversight

    California Proposes To End Bylaw Amendment Reviews

    Credit Unions got their start in Nineteenth Century Germany.  In 1909, Roman Catholic textile workers opened the first credit union in the United States, St. Mary's Cooperative Credit Association (later, renamed La Caisse Populaire Ste.-Marie).  At...

    10 CCR 30.105, Financial Code, NCUA, Uncategorized, amendment, Bylaws, Commissioner of Business Oversight, Credit Union, Financial Institutions, state charter

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