Blue Sky Laws Claims Attorneys Based in New York
One of the securities regulations in the United States is called Blue Sky Law. This term is typically used to describe state level laws that regulate the purchase and sale of securities. Individual states have their own Blue Sky Laws, which are based off the Uniform Securities Act – created by the National Conference of Commissioners On Uniform State Laws. It is important to note that Blue Sky Laws are identical to the Uniform Securities Act. These terms are used interchangeably by securities practitioners and attorneys alike.
If you have questions about these laws, consult with a trusted and experienced Blue Sky Law attorney from Weltz Law. Contact us by calling (877) 905-7671 today.
Navigating Blue Sky Laws
Just like how certain investments do not come with federal coverage, not all investment brokers are registered at the federal level. The U.S. Securities and Exchange Commission (SEC) is unable to protect all investors who are victims of security violations. These issues increased the need for state-level regulations to further protect investors. Thanks to the Uniform Securities Act, each state now has its own security laws, which are colloquially referred to as Blue Sky Laws. The National Conference of Commissioners on Uniform State Laws takes on the role of maintaining an updated list of jurisdictions that have adopted the Uniform Securities Act.
Because most Blue Sky Laws contain an anti-wavier provision, investors cannot waive their Blue Sky Law protections. In other words, agreements that waive compliance with the law are immediately voided. The next thing to note is not every state has adopted the uniform act verbatim and therefore, some investors are unable to sue for attorneys’ fees.
Uniform Securities Act Key Components
The Uniform Securities Act is comprised of a regulatory component and a civil liability provision component (i.e., anti-fraud provision). The first component authorizes individual states to regulate the intrastate securities transactions. The regulatory aspect of a state’s Blue Sky Laws is often facilitated by the securities commissioner.
The second component is important as it allows investors to pursue civil remedies for Uniform Securities Act violations, e.g., omissions made during the sale of securities, misrepresentations, and fraud. When investors file for Blue Sky Law claims, they may seek a return of principal, attorneys’ fees, and/or interest.
Discuss Your Blue Sky Laws Claim Today With an Attorney from Weltz Law. We Represent Clients Nationwide.
In order to file a successful Blue Sky Law claim, investors must prove that they have purchased unregistered securities (i.e., the investment brokerage firm was not registered in their state) or there was another Blue Sky Law violation. Investors are required to gather evidence regarding their transactions and information about the losses they are trying to recover. Weltz Law understands that these securities litigation processes can be complex, and we are here to help. Our Blue Sky Law attorneys provide advice on the dos and don’ts of filing such claims so that you can achieve a desirable outcome.
If you want to inquire about our Blue Sky Law services, feel free to schedule a consultation with us to further discuss your needs and rights.
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