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Securities Division

The Michigan Uniform Securities Act (MUSA), 2008 PA 551, provides for the regulation of the securities industry in Michigan. The Securities & Audit Division oversees the registration of individuals and entities that provide investment-related advice to Michigan residents, the registration and exemption of products, and investigates complaints related to securities.

Securities sold in Michigan must be either registered, federally covered, or exempt from registration, under the MUSA. All persons or businesses that offer or sell securities in this state or advise (for a fee) on what securities should be bought or sold must be registered, or exempt from registration, under the MUSA.

The Corporations, Securities & Commercial Licensing Bureau (CSCL) is committed to educating and protecting Michigan investors and consumers while fostering efficient capital formation in Michigan. The Bureau works closely and cooperatively with federal and state securities agencies, the North American Securities Administrators Association (NASAA), and self-regulatory organizations (SROs).


Please note:  Michigan is participating in the expansion of NASAA’s Electronic Filing Depository (“EFD”) System, which now allows for the electronic submission of various corporation finance filings and associated state fees to participating jurisdictions.  Through the new functionality, referred to as “Universal Filing Type” (UFT), filers can submit Michigan filings for registrations by coordination and qualification, requests for exemption for not-for-profit securities, Regulation A (Tier 1 and Tier 2), state and federal crowdfunding notices, and Reg D-Rule 504 filings.  The system may be accessed at

Pursuant to Regulatory Notice 2022-1 Michigan is requiring online filings of Regulation D and Unit Investment Trust through the North American Securities Administrators Association’s (NASAA) electronic filing depository (EFD) system. The EFD website also enables the public to search and view, free of charge, filings made through EFD with state securities regulators. 


Contact Us:
Department of Licensing and Regulatory Affairs (LARA)
Corporations, Securities & Commercial Licensing Bureau (CS&CL)
Securities and Audit Division
Address:  PO Box 30018, Lansing, MI 48909
Overnight Mail (FedEx/UPS): 2407 N. Grand River Ave, Lansing, MI 48906
Phone: (517) 335-5237
Fax: (517) 763-0039