The Louisiana Securities Law is a state law that regulates the sale of securities in Louisiana. The law is administered by the Louisiana Office of Financial Institutions (OFI), Securities Division.
The Louisiana Securities Law requires that all securities dealers, salesmen, and investment advisers register with Louisiana. The law also requires that all securities offered for sale in Louisiana be registered with the OFI, unless the securities or transactions are exempt.
Exempt securities include:
Securities issued by the United States or the state of Louisiana
Securities issued by certain banks and other financial institutions
Securities issued by certain non-profit organizations
Securities offered in certain private transactions
The Louisiana Securities Law is designed to protect investors from fraud and to ensure that investors have access to accurate information about the securities they are considering purchasing.
Here are some of the key provisions of the Louisiana Securities Law:
Registration of dealers, salesmen, and investment advisers: All dealers, salesmen, and investment advisers who offer or sell securities in Louisiana must be registered with the OFI.
Registration of securities: All securities offered for sale in Louisiana must be registered with the OFI, unless the securities or transactions are exempt.
Anti-fraud provisions: The Louisiana Securities Law prohibits fraud and other unfair practices in the sale of securities.
Enforcement: The OFI and private securities lawyers are responsible for enforcing the Louisiana Securities Law. The OFI can investigate alleged violations of the law and take enforcement actions, such as issuing cease-and-desist orders and imposing fines.
You can learn more about the law by visiting the OFI website or by contacting our law firm.