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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 state security laws are often known as blue sky laws. The Act was first promulgated in 1930, when it was entitled the Uniform Sales of Securities Act of 1930. [ 1 ] The 1930 Act met with limited success, enacted by only five jurisdictions. [ 2 ]
The name that is given to the law indicates the evil at which it is aimed, that is, to use the language of a cited case, "speculative schemes which have no more basis than so many feet of 'blue sky'"; or, as stated by counsel in another case, "to stop the sale of stock in fly-by-night concerns, visionary oil wells, distant gold mines and other ...
Gov. Roy Cooper signed a bill into law that allows Blue Cross NC to move assets into a deregulated holding company, despite transparency and accountability concerns from some top state officials.
The Martin Act (New York General Business Law article 23-A, sections 352–353) [1] is a New York anti-fraud law, widely considered to be the most severe blue sky law in the country. [2] Passed in 1921, it grants the Attorney General of New York expansive law enforcement powers to conduct investigations of securities fraud and bring civil or ...
However, blue sky laws were generally considered ineffective. For example, as early as 1915, the Investment Bankers Association told its members that they could circumvent blue sky laws by making securities offerings across state lines through the mail. [10]
The sky isn't just blue by chance. It takes all the colors of the rainbow for us to see it that way. It happens because of something called the Rayleigh effect, or Rayleigh scattering, named after ...