REVENUE AND REGULATION
GOVERNOR'S RECOMMENDED FY 2012 BUDGET
0262 Securities

MISSION:
To examine securities products, franchise offering circulars, and business opportunities plans; to register, renew, exempt, or amend securities and franchise documents; to license investment advisers, investment adviser agents, broker dealers and securities agents; to investigate and resolve all complaints; to investigate all alleged fraudulent schemes and take appropriate administrative action or recommend civil or criminal action, or both; to cooperate and coordinate with other state, local, or federal agencies; and, to inform and educate the investing public about franchise and securities purchases.

  ACTUAL
FY 2009
ACTUAL
FY 2010
BUDGETED
FY 2011
REQUESTED
FY 2012
GOVERNOR'S RECOMMENDED
FY 2012
RECOMMENDED INC/(DEC)
FY 2012
FUNDING SOURCE:
   General Funds $0 $0 $0 $0 $0 $0
   Federal Funds 0 0 0 0 0 0
   Other Funds 372,447 397,720 410,695 405,695 405,695 (5,000)
      Total $372,447 $397,720 $410,695 $405,695 $405,695 ($5,000)
 
EXPENDITURE DETAIL:
   Personal Services $325,941 $347,933 $341,092 $341,092 $341,092 $0
   Operating Expenses 46,506 49,787 69,603 64,603 64,603 (5,000)
      Total $372,447 $397,720 $410,695 $405,695 $405,695 ($5,000)
 
Staffing Level FTE: 5.0 5.0 5.0 5.0 5.0 0.0

  ACTUAL
FY 2009

ACTUAL
FY 2010

ESTIMATED
FY 2011

ESTIMATED
FY 2012

REVENUES:  
   Deposited to Securities Operating Fund: $0 $0 $0 $0
   Securities Registration Fees 64,108 57,375 60,000 55,000
   Franchise Registration Fees 144,950 139,750 140,000 140,000
   Franchise Exemption Fees 0 0 0 0
   Business Opportunities Registration Fees 350 400 300 300
   Securities Opinion Fees 225 100 200 200
   Investment Company Notification Fees 18,056,200 18,104,950 17,000,000 17,000,000
   Agent Licensing Fees 10,200,125 9,995,125 9,000,000 9,000,000
   Broker-Dealer Licensing Fees 207,900 204,900 210,000 200,000
   Investment Adviser Fees 3,700 3,700 4,500 3,500
   Investment Adviser Agent Fees 73,600 83,250 65,000 65,000
   I/A Notice Filings 167,600 145,000 130,000 130,000
   Miscellaneous 10,322 11,217 4,000 4,000
   Investment Council Interest 223,180 139,843 85,000 85,000
   Private Placement/Reg. D506/Other 72,750 75,975 70,000 70,000
   Fines 844,147 693,060 60,000 60,000
      
Total

$30,069,157

$29,654,645

$26,829,000

$26,813,000
PERFORMANCE INDICATORS:  
   New Securities Applications 46 54 45 45
   Extensions and Amendments 43 63 40 40
   Private Placement/Other Exemptions 1/293 0/299 1/250 1/250
   Invest. Comp. Notice Filings--New/Total 2,727/20,320 2,859//20,607 2,700/20,000 2,700/20,000
   New Franchise Applications/Registrations 262/773 216/756 250/770 200/700
   Franchise Extensions/Exemptions 510/0 669/0 500/0 600/0
   Business Opportunities--New/Total 2/1 3/4 2/2 2/2
   Brokers-Dealers/B-D Agents Licensed 1,323/60,975 1,323/60,975 1,330/59,000 1,300/59,000
   Investment Advisers/IA Agents Licensed 32/1,020 33/1,287 33/950 33/950
   Investment Advisers Notice Filing 722 699 700 700
   Franchise Applications Withdrawn 251 209 200 200
   Investigations 196 168 150 150
   Administrative Orders Issued 63 95 70 70
   Opinions Requested 3 2 3 3
   Transfers to General Fund (SDCL 4-4-4.4) $29,672,956 $29,293,943 $26,829,000 $26,813,000

generated 11/18/10 03:41:01 PM