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(815 ILCS 5/11.5)
Sec. 11.5. Securities exchange registration.
(a) A person shall not operate a securities exchange in this State unless it
has been registered with the Secretary of State.
(b) The Secretary of State shall adopt rules or regulations necessary to
carry out the provisions of this Section, including rules or regulations
prescribing:
(1) The fees for the registration of a securities |
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(2) The bonding and minimum capitalization
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(c) The Securities Director, or his or her designee, shall investigate the
qualifications of each person who applies to the Secretary of State for the
registration of a securities exchange. The applicant shall pay the cost of the
investigation.
(d) The Secretary of State may deny, suspend, or revoke the registration of
a
securities exchange if the Securities Director, or his or her designee, determines
that such action is in the public interest and the provisions of subsection (a)
of this Section are applicable to the person who applied for the registration
of a securities exchange.
(e) A securities exchange located in this State shall not allow the trading
of a security in this State unless it is issued by an issuer that has complied
with the requirements of this Act and any other applicable requirements of
federal or State law.
(f) Any transaction, solicitation, or other activity directly related to
the purchase, sale, or other transfer of securities listed on a securities
exchange located in this State shall be deemed to be a transaction in this
State.
(g) The Secretary of State may establish reasonable fees by rule or
regulation.
(h) A registered dealer or salesperson shall not use a securities exchange
to effect or report any transaction concerning a security unless the securities
exchange is registered with the Secretary of State or is excluded from the
provisions of Section 2.28 and this Section of the Act.
(Source: P.A. 98-756, eff. 7-16-14.)
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