The District of Columbia offers investors a number of protections under its securities laws. These laws are designed to prevent fraud and ensure that investors have access to accurate information about the securities they are considering purchasing.
The Securities Act of the District of Columbia (SADC) is the primary law that regulates the sale of securities in the District. The SADC requires that all securities offered for sale in the District be registered with the Securities and Exchange Commission (SEC), unless the securities or transactions are exempt. Exempt securities can include:
Securities issued by the United States or the District of Columbia
Securities offered in certain private transactions
The SADC 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 SADC also requires that all broker-dealers, agents, and investment advisers who offer or sell securities in the District be registered with the SEC.
Here are some of the key provisions of the Act::
Registration of securities: All securities offered for sale in the District must be registered with the SEC, 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 the District must be registered with the SEC.
Anti-fraud provisions: The SADC prohibits fraud and other unfair practices in the sale of securities.
Enforcement: The SEC is responsible for enforcing the SADC. The SEC can investigate alleged violations of the law and take enforcement actions, such as issuing cease-and-desist orders and imposing fines.
The District of Columbia also has a number of agencies and organizations that are involved in the regulation of the securities market. These agencies and organizations include the Securities Division of the District of Columbia Department of Insurance, Securities, and Banking, the District of Columbia Office of Consumer Protection, and the District of Columbia Bar Association's Securities Law Committee.
If you are considering investing in securities in the District of Columbia, it is important to consult with an attorney or other financial professional to learn more about the laws and regulations that may apply to your investment.
In addition to the SADC, there are a number of other laws and regulations that may apply to the sale of securities in the District of Columbia. These laws and regulations are designed to protect investors and to ensure that the securities market is fair and efficient. These include:
If you live in Washington D.C. and have been harmed by securities fraud or misconduct, contact our law firm to discuss your available options.