69W-100.007. Advertising and Sales Literature

(1) It is unlawful for any person, in connection with the offer or sale of any security registered pursuant to Section 517.081, F.S., to publish, circulate or use any advertising which contains an untrue statement of material fact or omits to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. All advertising shall be filed with the Office of Financial Regulation not later than the ten (10) days prior to the date of publication or circulation except as the Financial Services Commission or Office of Financial Regulation may otherwise provide by rule or order. The Office of Financial Regulation may by order prohibit the publication, circulation or use of any advertising deemed false or misleading.

(2) Every advertisement used in connection with an offering of securities registered pursuant to section 517.081, F.S., must be authorized in writing by the Office of Financial Regulation before being published or circulated unless it is within the requirements of Financial Industry Regulatory Authority (FINRA) Rule 2210, which is incorporated by reference in rule 69W-200.002, F.A.C., concerning advertisements for use in newspapers or any other means of public communication, or contains no more than the following:

(a) Date of issuance or release;

(b) Name and address of issuer;

(c) Identity or title of securities;

(d) Per unit offering price;

(e) Amount of offering;

(f) Brief statement of general character of the business;

(g) Address where prospectus or offering circular may be obtained.

(3) Any advertisement, except an offering circular or prospectus, intended to be used by a registered Florida dealer in connection with the public sale or offer for sale of any securities within the State of Florida shall be filed with the Office of Financial Regulation at least ten (10) days prior to publication or circulation if such advertisement contains more than the disclosure items listed in subsection (2), or does not meet the requirements of FINRA Rule 2210.

Rulemaking Authority 517.03 FS. Law Implemented 517.081 FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-100.07, 3E-100.007, Amended 9-30-10, 9-22-14.