Securities - Guide to Securities Law
Securities are any form of ownership that can be easily traded on a secondary market, such as stocks and bonds. It also includes their derivatives, such as futures contracts, options, or mutual funds. Traders must be licensed to buy and sell securities to assure they are trained to follow the laws and regulations set forth by the Securities and Exchange Commission (SEC). Blue Sky Laws are used by the States to enforce securities law and protect investors.
Securities are part of the Banking and Finance area of practice which also includes: Asset Protection, Banking Law, Capital Markets, Commodities, Corporate Finance, Finance, Financial Services, Investment Law, Private Equity, Project Finance, Public Finance, Trade Investment and Venture Capital.
Find Attorneys for Securities Law
Securities Law - US
- ABA - Securities Litigation Committee
The Securities Litigation Committee, whose diverse membership includes attorneys from both the plaintiff and defense perspective, corporate counsel, and academicians, strives to be an invaluable resource to those practicing or interested in securities litigation, arbitration or regulatory enforcement matters.
- EDGAR - SEC Filings
All companies, foreign and domestic, are required to file registration statements, periodic reports, and other forms electronically through EDGAR. Anyone can access and download this information for free. Here you'll find links to a complete list of filings available through EDGAR and instructions for searching the EDGAR database.
- National Securities Markets Improvement Act - NSMIA
Passed by the U.S. Congress in 1996, the NSMIA was an attempt to update and amend previous security acts and create one uniform code that companies and regulators could follow.
- Securities - Definition
A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities (such as banknotes, bonds and debentures) and equity securities, e.g., common stocks; and derivative contracts, such as forwards, futures, options and swaps. The company or other entity issuing the security is called the issuer. A country's regulatory structure determines what qualifies as a security. For example, private investment pools may have some features of securities, but they may not be registered or regulated as such if they meet various restrictions.
- Securities Act of 1933
The Securities Act of 1933 was the first major piece of federal legislation regarding the sale of securities. Prior to this legislation, the sale of securities was primarily governed by state laws; however, the market crash of 1929 raised some serious questions about the effectiveness of how the markets were being governed. Because of the turmoil surrounding the investing community at this time, the federal government had to bring back stability and investor confidence in the overall system.
- Securities and Exchange Commission (SEC)
The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever. As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation.
- Securities Exchange Act of 1934
The act which created the SEC, outlawed manipulative and abusive practices in the issuance of securities, required registration of stock exchanges, brokers, dealers, and listed securities, and required disclosure of certain financial information and insider trading.
- Securities Investor Protection Act
Although the Bankruptcy Code provides for a stockbroker liquidation proceeding (11 U.S.C. § 741 et seq.), it is far more likely that a failing brokerage will find itself involved in a proceeding under the Securities Investor Protection Act of 1970 ("SIPA") (15 U.S.C. §§ 78aaa et seq.), rather than a Bankruptcy Code liquidation case.
- State Blue Sky Laws
State regulations designed to protect investors against securities fraud by requiring sellers of new issues to register their offerings and provide financial details. This allows investors to base their judgments on trustworthy data.
Organizations Related to Securities Law
- ABA Securities Association (ABASA)
The ABA Securities Association (ABASA) is a separately chartered trade association and non- profit affiliate of the American Bankers Association whose mission is to represent the interests of banks underwriting and dealing in securities, proprietary mutual funds and derivatives before Congress, federal and state governments, and the courts. ABASA supports bank securities operations through research, education, compliance assistance and 'peer group' opportunities.
- Financial Industry Regulatory Authority (FINRA)
The Financial Industry Regulatory Authority (FINRA), is the largest independent regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 4,750 brokerage firms, about 167,000 branch offices and approximately 633,500 registered securities representatives.
- Forbes
Online source for the latest business and financial news and analysis. Covering personal finance, lifestyle, technology and stock markets.
- Nasdaq.com
Nasdaq.com is the official website of The Nasdaq Stock Market, the largest US electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business, including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks.
- SEC, NASD and Securities Law Information Center
This site is designed to assist investors who have lost money. The SEC, NASD and Securities Law Information Center helps investors document their cases in order to best explain how their funds may have been improperly managed. Clients can then follow up on their own or with a law firm in an attempt to recover their losses.
- Securities Investor Protection Corporation (SIPC)
SIPC is an important part of the overall system of investor protection in the United States. While a number of federal, self-regulatory and state securities agencies deal with cases of investment fraud, SIPC's focus is both different and narrow: Restoring funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms. The Securities Investor Protection Corporation was not chartered by Congress to combat fraud.
Publications Related to Securities Law
- CorporateCounsel.net Blog
Practical Corporate and Securities Law Blog
- Securities Class Action Clearinghouse
The Securities Class Action Clearinghouse provides detailed information relating to the prosecution, defense, and settlement of federal class action securities fraud litigation. The Clearinghouse maintains an Index of Filings of 3070 issuers that have been named in federal class action securities fraud lawsuits since passage of the Private Securities Litigation Reform Act of 1995. The Clearinghouse also contains copies of more than 32,200 complaints, briefs, filings, and other litigation-related materials filed in these cases.
- Securities Law Prof Blog
Articles on HG.org Related to Securities Law
- When is a Promissory Note a Security?
- Brokers and Finders in Securities Law
- Broker Law for Employees and Directors Who Sell Your Stock
- Brokers and Finders in Securities Law – Who is a Broker? Definition
- Brokers and Finders in Securities Law – Overview
- Resale of Restricted Securities
- A Brief Q&A for Framework Agreements among Individuals and Brokerage Companies for Stock Market Transactions - Turkey
- Introduction to Federal Private Offering Exemptions
- How a Management Co., General Partner or Broker Uses General Advertisements and Solicitations to Get Investors
- How to Find and Solicit Investors for a Private Offering of Securities
- All Banking and Finance Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Banking and Finance including: asset protection, capital markets, corporate finance, financial planning, financial services law, investment law, offshore accounts, private equity, project finance, public finance, securities, trade investment and venture capital.
HG.org Resources on Banking and Finance Law
- Expert Witnesses Secured Lending
- Expert Witnesses Secured Transactions
- Expert Witnesses Securities
- Expert Witnesses Securities Fraud
- Expert Witnesses Securitization
- Expert Witnesses Securitization Accounting
- Guide to Banking and Finance Law
Banks and bank accounts are regulated by both state and federal statutory law. Bank accounts may be established by national and state chartered banks and savings associations. All are regulated by the law under which they were established.
- Guide to Commodities Law
Commodities are defined as any good or service produced by human labor and offered as a product for general sale on the market. The Commodity Futures Trading Commission (CFTC) has the mandate to regulate this sector of financial activity.
- Guide to Financial Services Law
Financial Services Law includes the laws and regulations that govern financial institution compliance. Financial institutions include amongst others, banks, credit unions and loan agencies.
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