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 between states, they all require the registration of all securities offerings and sales, as well as of
stock brokers and brokerage firms. Each state's blue sky law is administered by its appropriate regulatory agency, and most also provide private
causes of action for private investors who have been injured by
securities fraud.
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