Current Effective Filings [PDF]
Under state law, all securities must be registered with the Department of Banking and Securities for sale in Pennsylvania unless the security is exempt, the securities transaction is exempt or the security is a federally covered security. The Department of Banking and Securities registers only issuer transactions. These are transactions where the company is selling its securities directly to an investor as opposed to an investor buying securities of the company from a private individual or through a stock exchange.
Securities listed on the New York Stock Exchange, the American Stock Exchange, the Philadelphia Stock Exchange, Tier 1 of the Pacific Stock Exchange and the Chicago Board Options Exchange or quoted on the NASDAQ National Market System are exempt from registration with the Department of Banking and Securities. Initial public offerings of companies that may be listed on other exchanges or quoted on the NASDAQ Small Cap Market, however, are subject to registration with the Department of Banking and Securities.
Registration of securities by the Department of Banking and Securities does not constitute a finding by the Department that the information filed is true, complete or not misleading. These securities have not been approved or disapproved by the Department nor has it passed upon the accuracy or adequacy of the prospectus. Representations made by persons to the contrary constitute an offense under the securities laws.