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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 .
It was created by the National Conference of Commissioners on Uniform State Laws (NCCUSL). The purpose of the Uniform Securities Act is to provide model legislation that can be adopted by a state to deal with securities fraud at the state level, supplementing enforcement and regulation efforts of the U.S. Securities and Exchange Commission (SEC ...
Prior to the Securities Act of 1933, securities were mainly regulated by state laws, which are also known as blue sky laws. After the Pecora hearings, Congress passed the Securities Act of 1933 prescribing rules for the interstate sales of securities, and made it illegal to sell securities in a state without complying with that state's laws ...
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 ...
Annuity regulation is a patchwork of state and federal oversight, from state insurance departments monitoring agents and brokers to federal agencies regulating variable annuities.
Prior to the enactment of the federal securities laws and the creation of the SEC, securities trading was governed by so-called blue sky laws. These laws were enacted and enforced at the state level and regulated the offering and sale of securities to protect the public from fraud.
The law changed once more in 1991 to allow businesses to open at noon on Sunday. On March 19, 2019 the state Legislature passed a law abolishing the blue law in the state. The bill was then signed by Governor Doug Burgum on March 25, 2019. [60] The blue law expired on August 1, 2019 and the first Sunday with legal morning sales was August 4, 2019.
A movement in a myriad of rural counties across deep blue states such as Illinois and California to split off and form new states appears to be gaining some steam in the wake of the Nov. 5 election.