South Carolina investors have rights and protections under numerous laws and regulations including:
The South Carolina Uniform Securities Act (SCUSA) is the state law that regulates the sale of securities in South Carolina. It is administered by the South Carolina Securities Division, which is part of the South Carolina Attorney General's Office.
The SCUSA is designed to protect investors from fraud and to ensure that investors have access to accurate information about the securities they are considering purchasing.
The SCUSA requires that all securities offered for sale in South Carolina be registered with the Securities Division, unless the securities or transactions are exempt. Exempt securities include:
Securities issued by the United States or the state of South Carolina
Securities issued by certain non-profit organizations
Securities offered in certain private transactions
The SCUSA also requires that all broker-dealers, agents, and investment advisers who offer or sell securities in South Carolina be registered with the Securities Division.
Here are some of the key provisions of the SCUSA:
Registration of securities: All securities offered for sale in South Carolina must be registered with the Securities Division, unless the securities or transactions are exempt.
Registration of broker-dealers, agents, and investment advisers: All broker-dealers, agents, and investment advisers who offer or sell securities in South Carolina must be registered with the Securities Division.
Anti-fraud provisions: The SCUSA prohibits fraud and other unfair practices in the sale of securities.
Enforcement: The Securities Division and private securities lawyers are responsible for enforcing the SCUSA.
If you have any questions about the SCUSA or about investing in securities in South Carolina, you can contact our office to discuss.