how We Work
The Department of Banking and Securities is available to small business owners and the professionals who advise them in order to help them learn about how to raise capital in compliance with the fundamental principles of the Pennsylvania Securities Act of 1972, which governs the offers and sales of securities in Pennsylvania.
When used correctly, the provisions of the Securities Act can assist companies to raise capital and further their business growth. Of course, undertaking a securities offering is a serious matter. For some it can provide a viable financing alternative, but a securities offering may not be appropriate for every business.
The department’s securities oversight is handled by three units:
- Corporation Finance Office, which reviews and analyzes filings for exemption and registration of securities for compliance with Pennsylvania’s laws, regulations, and department positions;
- Office of Chief Accountant, which provides accounting, auditing and forensic accounting services to all aspects of securities oversight in Pennsylvania; and
- Bureau of Securities Licensing, Compliance and Examinations, which consists of the following divisions:
- Licensing Division, which reviews registration applications filed by those who wish to conduct securities business (i.e., be employed in the securities brokerage business or provide investment advice to the public) in Pennsylvania; and
- Compliance and Examinations Division, which monitors compliance with all post-registration regulations and conducts examinations of broker-dealer and investment adviser offices and investigations of possible violations of the Securities Act.
We encourage representatives of prospective securities issuers to contact staff for further assistance. To help with your questions, you can call us at (717) 787-1854 or toll free in Pennsylvania at 1-800-PA-BANKS (800-722-2657).
We also offer education brochures on a variety of financial topics, which you can find on our website: www.dobs.state.pa.us
This guidance is intended as a primer only. For more information, please contact the department or these other resources:
U.S. Securities and Exchange Commission
Office of Small Business
North American Securities Administrators Association
U.S. Small Business Administration Office of Advocacy