Securities - DFPI
Securities
The DFPI regulates all offers and sales of securities in California. Through registration and oversight, DFPI supports a healthy and trusted financial marketplace.
Access FRANSES
The
Corporate Securities Law of 1968
stipulated that all securities offered or sold must be either qualified with the Commissioner of Corporations or exempted from registration by a specific Rule of the Commissioner or specific law. Like federal securities laws and the blue sky laws of other states, the Corporate Securities Law of 1968 is intended to protect the public from fraud and deception in transactions involving securities.
Laws & Regulations
About the Corporate Securities Law of 1968
Approved Rulemaking
Fairness Hearings
California Crowdfunding Exemption
Commissioner’s Releases, Selected Opinions, Bulletins and Notices
Regulations, Legislation
FRANSES Training Materials
FRANSES User Guide
FRANSES Tutorials
For the Consumer
Investor Information
Resources
For Business
Business Seeking to Raise Capital in California
Fairness Hearings
California Corporations Code section 25142
allows companies interested in issuing securities in a merger or conducting an exchange of outstanding securities to seek a “fairness” hearing as part of its application for qualification of the offer and sale of securities. By this process, applicants may seek an exemption from federal registration as provided by Section 3(a)(10) of the Securities Act of 1933 through a state-law hearing on the fairness of the terms and conditions of the proposed issuance or exchange of securities.
Check
information about Fairness Hearings
Check
list of Fairness hearings
Frequently Asked Questions and Answers
For Securities FAQ, visit
here
Questions and answers about Section 25102(f) Notice Filing, Form D Filings, Section 25102(o) Notice Filing, Section 25113(e) Regulatory Examination of Securities, Investment Company Notice Filings and Miscellaneous.
Forms
Department of Financial Protection and Innovation is pleased to provide links to the following forms listed below. To find which is the proper office to file your application and or notice, please refer to Commissioner’s Release 13-G (Revised) (PDF)
The table below contains a list Securities Forms
Form Number
Form Title
Format
25102.1(a)
Form 1-A Regulation A Offering Statement Under the Securities Act of 1933
PDF
25102.1(d)
Notice of Exempt Offering of Securities – Form D
PDF
DFPI-25100.1(b)
Notice of Issuance of Securities by An Investment Company Pursuant to Corporations Code Section 25100.1(b)
PDF
DFPI-25102 N
Transaction Pursuant to Corporations Code Section 25102(n) Packet including Instructions and Forms
Limited Offering Exemption Notice Packet Corporations Code Section 25102(n) – Instructions Only
First Notice of Transaction Pursuant to Corporations Code Section 25102(n)
Second Notice of Transaction Pursuant to Corporations Code Section 25102(n)
PDF
DFPI – 25102(r)
California Crowdfunding Exemption Notice
PDF
DFPI-260.100.1
Request for Designation as an Exempt Organization Pursuant to Subdivision (k) of Section 25100 Corporate Securities Law of 1968
PDF
DFPI-260.100.3
Request For Order of Exemption Pursuant to Subdivision (L) of Section 25100 of the Corporate Securities Law of 1968
PDF
DFPI-260.102.8(a)
Notice of Issuance of Securities Pursuant to Corporations Code Section 25102(h)
PDF
DFPI-260.102.8(b)
Consent to Service of Process
PDF
DFPI-260.103.6(b)
Notice of Exchange Transaction Pursuant to Corporations Code Section 25103(h)
PDF
DFPI-260.105.33/34
Notice for Senior to Listed Securities
PDF
DFPI-260.110
Facing Page for Application for Qualification of the Offer & Sale of Securities under the Corporate Securities Law of 1968
PDF
DFPI-260.111
Instructions for Qualification by Coordination
PDF
DFPI-260.112
Instructions for Application by Notification
PDF
DFPI-260.113
Instructions for Application by Permit
PDF
DFPI-260.121
Instructions for Application for Qualification and Recapitalization
PDF
DFPI-260.141.50
Application for Removal of Condition
PDF
DFPI-260.146
Semi-Annual Report Pursuant to Section 25146 of the Corporate Securities 1968
PDF
DFPI-260.151(a)
Application for Consent to Transfer Securities
(include 260.151(b))
PDF
DFPI-260.151(b)
Statement of Transferee
(include 260.151(a))
PDF
DFPI-260.165
Consent to Service of Process 260.165
PDF
DFPI-260.507
Application for Repurchase Offer Approval
PDF
DFPI-260.102.14(c)
Notice of Transaction Pursuant to Corporations Code Section 25102(f) (Instruction included)
File your Limited Offering Exemption Notice (Corporations Code 25102(f)) Online.
PDF
DFPI-260.102.19
Notice of Issuance of Securities pursuant to subdivision (o) of Section 25102 of the Corporations Code
PDF
DFPI-260.131
Facing Page For Qualification Of Nonissuer Transaction By Notification
PDF
DFPI-260.140.80.5
Contractual Periodic Payment Plan Standards Guidelines
PDF
DFPI-260.141.13
Notice of Release of Securities From Escrow Save & Exit
PDF
DFPI-ADM 500.295
Instructions for Section 260.141.11 Restriction on Transfer
PDF
DFPI-QR-500.259
Customer Authorization of Disclosure of Financial Records and Instructions
PDF
DFPI-SB-978
Real Estate Related Information Required Pursuant to Corporations Code Section 25102.2
PDF
DFPI-SCOR-260.113
Small Corporate Offering Registration Form
PDF
DFPI-SRD 500.526
A Consumer’s Guide to Small Business Investments
PDF
DFPI-SRD QR 518
Look Before You Leap – Guide to Buying a Franchise
PDF
News & Info Links
Newsroom
Press Releases
Monthly Bulletins
Important Notices
Contact the Sacramento Office
Department of Financial Protection and Innovation
651 Bannon Street, Suite 300
Sacramento, CA 95811
Phone: (866)-275-2677
Email:
[email protected]
Contact the San Francisco Office
Department of Financial Protection and Innovation
One Sansome Street, Suite 600
San Francisco, CA 94104-4428
Phone: (866)-275-2677
Email:
[email protected]
Contact the Los Angeles Office
Department of Financial Protection and Innovation
320 West 4th Street, Suite 750
Los Angeles, CA 90013-2344
Phone: (866)-275-2677
Email:
[email protected]
Updated:
April 8, 2026