If you have a corporation in California you're required to issue shares of stock - we break down what that means and what you need to do. The DFPI regulates all offers and sales of securities in California.This article explains the basic requirements to keep in mind when your corporation issues any securities. What are Shares of Stock and how are they used? The Securities and Exchange Commission (SEC) oversees securities exchanges, securities brokers and dealers, investment advisors, and mutual funds. Want to invest in stocks?