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A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms .
Every American state has its own securities laws that aim to protect investors against fraud. These laws, called blue sky laws, also oversee the licensing and reporting requirements placed on ...
The Martin Act was passed by the New York Legislature in 1921, bearing the name of its sponsor in the state assembly, Louis M. Martin. [6] New York was one of the last states to pass an act of this kind, termed "blue sky laws," due in part to lobbying from the state's financial institutions [6] The New York Legislature reportedly intended for the Martin Act to be an "anemic" regulation ...
State laws governing issuance and trading of securities are commonly referred to as blue sky laws and mostly deal with fraud and fraud investigation privileges, registration of securities, and registration of broker-dealers. In general, states allow injunctions to stop businesses from potentially fraudulent activity and states give broad ...
OTC Markets recently announced the introduction of the Blue Sky Data Product, a feed that displays Blue Sky compliance data for more than 16,000 OTC equity securities and 80,000 OTC corporate ...
The National Securities Markets Improvement Act of 1996 added a new Section 18 to the 1933 Act which preempts blue sky law merit review of certain kinds of offerings. [further explanation needed] Part of the New Deal, the Act was drafted by Benjamin V. Cohen, Thomas Corcoran, and James M. Landis, and signed into law by President Franklin D ...
As a result, there is a need for state-level security regulations to protect investors with respect to these securities. The Uniform Securities Act provides model legislation that can be enacted by a state to provide this protection. The state security laws are often known as blue sky laws.
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