Scholarship@WashULaw

Document Type

Article

Language

English (en)

Publication Date

2003

Publication Title

Washington University Law Quarterly

Abstract

In early August, the National Conference of Commissioners on Uniform State Laws (“NCCUSL”) adopted the Uniform Securities Act (2002) at its annual meeting. At that time, there were two earlier versions of the Uniform Securities Act in force.

The Uniform Securities Act of 1956 (“1956 Act”) had been adopted at one time or another, in whole or in part, by 37 jurisdictions. The Revised Uniform Securities Act of 1985 (“RUSA”) had been adopted in only a few States. Both Acts have been preempted in part by the National Securities Markets Improvement Act of 1996 (“NSMIA”) and the Securities Litigation Uniform Standards Act of 1998.

The need to modernize the Uniform Securities Act is a consequence of a combination of the new federal preemptive legislation, significant recent changes in the technology of securities trading and regulation, and the increasingly interstate and international aspects of securities transactions.

Keywords

Uniform Securities Act, Securities Trading and Regulation

Publication Citation

Joel Seligman, The New Uniform Securities Act, 81 Wash. U. L. Q. 243 (2003)

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