§ 5505. Misleading filings
§ 5505. Misleading filings It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed under this chapter, a statement that, at the time and in the light of the circumstances under which it is made, is false or misleading […]
§ 5506. Misrepresentations concerning registration or exemption
§ 5506. Misrepresentations concerning registration or exemption The filing of an application for registration, a registration statement, a notice filing under this chapter, the registration of a person, the notice filing by a person, or the registration of a security under this chapter does not constitute a finding by the Commissioner that a record filed […]
§ 5507. Qualified immunity
§ 5507. Qualified immunity A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to a statement that is contained in a record required by the Commissioner, or designee of the Commissioner, […]
§ 5508. Criminal penalties
§ 5508. Criminal penalties (a)(1) Upon conviction, any person shall be fined not more than $100,000.00 or imprisoned not more than five years, or both who: (A) willfully violates this chapter, or a rule adopted or order issued under this chapter, except section 5504 of this chapter or the notice filing requirements of section 5302 […]
§ 5509. Civil liability
§ 5509. Civil liability (a) Enforcement of civil liability under this section is subject to the Securities Litigation Uniform Standards Act of 1998. (b) A person is liable to the purchaser if the person sells a security in violation of sections 5301, 5501, or 5502 of this chapter, the purchaser not knowing the untruth or […]
§ 5510. Rescission offers
§ 5510. Rescission offers (a) Unless a purchaser, seller, or recipient of investment advice provides written notice of a dispute to the seller, purchaser, or provider of investment advice in conformity to subsection (b) of this section, such purchaser, seller, or recipient of investment advice may not maintain an action under section 5509 of this […]
§ 5503. Evidentiary burden
§ 5503. Evidentiary burden (a) In a civil action or administrative proceeding under this chapter, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim. (b) In a criminal proceeding under this chapter, a person claiming an exemption, exception, preemption, or exclusion has the burden of […]
§ 5504. Filing of sales and advertising literature
§ 5504. Filing of sales and advertising literature (a) Except as otherwise provided in subsection (b) of this section, a rule adopted or order issued under this chapter may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice, addressed or […]
§ 5501. General fraud
§ 5501. General fraud It is unlawful for a person, in connection with the offer to sell, the offer to purchase, the sale, or the purchase of a security, directly or indirectly: (1) to employ a device, scheme, or artifice to defraud; (2) to make an untrue statement of a material fact or to omit […]
§ 5502. Prohibited conduct in providing investment advice
§ 5502. Prohibited conduct in providing investment advice (a) It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as part of a regular […]