The Changing Nature of Federal Regulation - Dedications

Authors

Joel Seligman, Washington University in St. Louis School of LawFollow

Document Type

Article

Language

English (en)

Publication Date

2001

Publication Title

Washington University Journal of Law & Policy

Abstract

In 1911 the failure of state corporation statutes to prevent securities fraud gave rise to the first significant legislative response when Kansas enacted the first well known state securities law. The law was popularly known as a “blue sky” law, because its intention was to check stock swindlers so barefaced that they “would sell building lots in the blue sky.”

After the U.S. Supreme court held that the blue sky law was constitutional in 1917, the blue sky movement swept the country. By 1933 every state except Nevada had a state securities law in effect.

Keywords

Blue Sky Movement, State Securities Law, Securities Fraud

Publication Citation

Joel Seligman, The Changing Nature of Federal Regulation Dedications, 6 Wash. U. J.L. & Pol’y 205 (2001)

Repository Citation

Seligman, Joel, "The Changing Nature of Federal Regulation - Dedications" (2001). Scholarship@WashULaw. 739.
https://openscholarship.wustl.edu/law_scholarship/739