Each state has its own securities laws. The following are selected sections of the Wyoming securities laws that are generally applicable in FINRA arbitrations.
CHAPTER 4 – SECURITIES
17-4-101. Fraudulent practices prohibited in securities sales and purchases.
(a) It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:
(i) To employ any device, scheme, or artifice to defraud;
(ii) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
(iii) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
17-4-102. Fraudulent practices prohibited in advisory activities.
(a) It is unlawful for any person who receives any consideration from another person primarily for advising the other person as to the value of securities or their purchase or sale, whether through the issuance of analyses or reports or otherwise:
(i) To employ any device, scheme, or artifice to defraud the other person; or
(ii) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon the other person.
If you have questions about a state securities law, The White Law Group may be able to help. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.Tags: 17-4-101, Boca Raton, broker dealer, broker fraud, Cheyenne, Chicago, excessive trading, FINRA, Florida, Illinois, investment losses, investor protection, NASD, SEC, Securities Attorney, securities compliance, securities regulation, stockbroker, suitability, Wyoming securities laws Last modified: July 17, 2015