State regulations governing the sale of securities and mutual funds, designed to safeguard investors from being lured into fraudulent or unscrupulous deals. Under this memorandum, only appointed brokers or agents, who are appropriately licensed within the jurisdiction, are allowed to make securities transactions. Blue sky laws are governed by the SEC.
Details on Blue Sky Laws:
State regulations can vary widely and you should check the applicable laws for the state you wish to trade in, even more so if you wish to be a broker or work in the financial industry.