17-12a608.   Uniformity and cooperation with otheragencies.(a) Objective of uniformity. The administratormay cooperate, coordinate, consult, and, subject toK.S.A. 17-12a607, andamendments thereto, share records and information with thesecurities regulator of another state, Canada, a Canadian provinceor territory, a foreign jurisdiction, the securities and exchangecommission, the United States department of justice, the commodityfutures trading commission, the federal trade commission, thesecurities investor protection corporation, a self-regulatoryorganization, a national or international organization of securitiesregulators, a federal or state banking or insurance regulator, anda governmental law enforcement or regulatory agency to effectuategreater uniformity in securities matters among the federalgovernment, self-regulatory organizations, states, and foreigngovernments.

      (b)   Policies to consider. In cooperating, coordinating,consulting, and sharing records and information under this sectionand in acting by rule, order, or waiver under this act, theadministrator, in the administrator's discretion, shall take into considerationincarrying out the public interest the following general policies:

      (1)   Maximizing effectiveness of regulation for the protectionof investors;

      (2)   maximizing uniformity in federal and state regulatorystandards; and

      (3)   minimizing burdens on the business of capital formation,without adversely affecting essentials of investor protection.

      (c)   Subjects for cooperation. The cooperation, coordination,consultation, and sharing of records and information authorized bythis section includes:

      (1)   Establishing or employing one or more designees as acentral depository for registration and notice filings under thisact and for records required or allowed to be maintained under thisact;

      (2)   developing and maintaining uniform forms;

      (3)   conducting a joint examination or investigation;

      (4)   holding a joint administrative hearing;

      (5)   instituting and prosecuting a joint civil or administrativeproceeding;

      (6)   sharing and exchanging personnel;

      (7)   coordinating registrations underK.S.A. 17-12a303,17-12a304[*] and 17-12a401 through 17-12a404, and amendments thereto, andexemptions underK.S.A. 17-12a203, andamendments thereto;

      (8)   sharing and exchanging records, subject toK.S.A. 17-12a607,andamendments thereto;

      (9)   formulating rules, statements of policy, guidelines, forms,and interpretative opinions and releases;

      (10)   formulating common systems and procedures;

      (11)   notifying the public of proposed rules, forms, statementsof policy, and guidelines;

      (12)   attending conferences and other meetings among securitiesregulators, which may include representatives of governmental andprivate sector organizations involved in capital formation, deemednecessary or appropriate to promote or achieve uniformity; and

      (13)   developing and maintaining a uniform exemption fromregistration for small issuers, and taking other steps to reduce theburden of raising investment capital by small businesses.

      History:   L. 2004, ch. 154, § 47; July 1, 2005.