Last Updated: February 2024 (Austin, Texas)
Blue Owl Technology Income Corp. Investigation Summary
Here’s what you need to know about New York, NY, business development company (BDC) Blue Owl Technology Income Corp. (OTIC):
- Name: Blue Owl Technology Income Corp. (formerly Owl Rock Technology Income Corp.) – OTIC
- About OTIC, According to their website: “OTIC is a perpetually non-traded business development company (BDC) that employs a risk-adjusted approach to investing in software and technology-related businesses.”
- Function: Business Development Company (BDC)
- Primary Location: New York, NY
- Sanctioned by Texas Securities Regulators: Yes
Texas State Securities Board Sanctions Blue Owl Technology Income Corp. (OTIC) For Unregistered Securities Offering
In February 2024 The Texas State Securities Board (TSSB) assessed the company an administrative fine of $102,000 for violations of The Securities Act, Tex. Govt Code 4001.001-4008.105 and the Administrative Procedure Act, Tex. Gov’t Code Ann. 2001.001-2001.903.
According to the Disciplinary Order issued by the TSSB, OTIC sold in excess of $17,000,000 of securities to Texas investors during a period when the securities offering was not registered in Texas.
The Disciplinary Order concluded that OTIC violated §4003.001 of the Securities Act by selling securities in Texas at a time when the securities were not registered with or permitted by the Securities Commissioner or otherwise exempt from the registration requirements.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Questions About an Investment in Blue Owl Technology Income Corp.
If you are a Texas resident who has questions about your investment in Blue Owl Technology Income Corp, contact us for a complimentary consultation with an experienced securities lawyer.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors in Texas and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.