The Indiana Uniform Securities Act (IUSA) is a state securities law that regulates the offer and sale of securities in Indiana. The IUSA is based on the Uniform Securities Act, which is a model securities law that has been adopted by most other states.
The IUSA applies to all securities offered or sold in Indiana, with certain exceptions. For example, the IUSA does not apply to securities that are exempt from registration, such as certain government securities, securities issued by banks and other financial institutions, and securities issued by private companies to a limited number of investors.
The IUSA requires that most securities be registered with the Indiana Secretary of State, Securities Division before they can be offered or sold in Indiana. To register a security, the issuer must file a registration statement and pay a filing fee. The registration statement must contain information about the issuer, the security, and the offering, such as the issuer's financial condition, the terms of the security, and the risks of the investment.
The IUSA also regulates broker-dealers, agents, investment advisers, and investment adviser representatives. These individuals must register with the Indiana Secretary of State, Securities Division before they can engage in securities activities in Indiana.
The IUSA prohibits fraud and other fraudulent activities in connection with the offer and sale of securities. Private securities attorneys and The Indiana Securities Division have the authority to investigate and prosecute violations of the IUSA.
Here are some of the key provisions of the IUSA:
Registration of securities: Most securities must be registered with the Indiana Secretary of State, Securities Division before they can be offered or sold in Indiana.
Registration of broker-dealers, agents, investment advisers, and investment adviser representatives: These individuals must register with the Indiana Secretary of State, Securities Division before they can engage in securities activities in Indiana.
Anti-fraud provisions: The IUSA prohibits fraud and other fraudulent activities in connection with the offer and sale of securities.
The IUSA is an important law that protects investors from fraud and other abuses. You can find more information about the IUSA on the website of the Indiana Secretary of State, Securities Division or by contracting our law firm.
In addition to the Indiana Uniform Securities Act, numerous federal law provide protections for investors including: