New Jersey Blue Sky Laws

Blue Sky`s Section 18(b)(4)(D) filing fee for 506 bids is set out below. Due to the number of nuanced requests and the complexity of fee calculation, please contact Colonial Stock Transfer to process your submissions if you have specific questions. Our Blue Sky service team can help you from start to finish. See also a complete list of A Blue Sky regulatory fees Blue Sky laws, which serve as an additional layer of regulation to federal securities regulation, generally require licenses for brokerages, investment advisers and individual dealers who offer securities in their states. These laws require private mutual funds to register not only in their home state, but in any state where they wish to do business. Our Blue Sky filing services are an effective way for you to meet the filing requirements of the securities laws of different states. Securities laws are regulated by the federal government, but each state enacts its own securities laws, commonly referred to as “blue sky laws,” to complement federal securities laws and further regulate the sale and offering of securities. There are many similarities between Blue Sky laws, but there are specific requirements that vary from state to state in terms of the fees required, as well as how titles can be registered. Blue sky laws are government regulations established to protect investors from securities fraud. Laws, which can vary from state to state, typically require sellers of new shows to record their listings and provide financial details about the deal and the companies involved.

This gives investors a wealth of verifiable information on which to base their judgment and investment decisions. Although there were blue sky laws in place during this period – Kansas enacted the earliest in 1911 – they tended to be weakly formulated and enforced, and unscrupulous people could easily avoid them by doing business in another state. After the stock market crash and the onset of the Great Depression, Congress enacted several securities laws to regulate the stock market and the financial sector at the federal level and create the SEC. While blue sky laws vary from state to state, they are all aimed at protecting individuals from fraudulent or overly speculative investments. The purpose of these laws is to discourage sellers from taking advantage of investors who lack experience or knowledge and to ensure that investors receive offers for new issues that have already been reviewed for fairness and equity by their state administrators. Issuers of securities must disclose the terms of the offer, including the disclosure of material information that may affect the security. The state nature of these laws means that each jurisdiction may have different filing requirements for registration registration. The process typically involves a review of performance by government officials who determine whether the offer is balanced and fair to the buyer. The legal provisions also create liability for fraudulent statements or non-disclosure of information, allowing for legal action and other legal action against issuers. The term “blue sky law” is said to have originated in the early 1900s and would be widely used when a Kansas Supreme Court justice declared his desire to protect investors from speculative enterprises that had “no more foundation than so many feet of `blue sky.` In 1956, the Uniform Securities Act was passed, a model law that provides a framework that guides states in drafting their own securities legislation. It now forms the basis of 40 of the 50 state laws and is itself often referred to as Blue Sky Law.

Subsequent statutes, such as the National Securities Markets Improvement Act of 1996, anticipate blue sky laws when they duplicate federal laws. 1/2 of 1% of the maximum aggregate offering price of the securities to be offered to Delaware during the initial registration period, but not less than $200.00 or more than $1,000.00. Late Fee: The filing fee under Rule 506 is doubled if not paid by the due date, unless the Director waives the late payment fee, but the total fee does not exceed the corresponding maximum legal amount. Initial bid: $100. Additional Bid: 1/10 of 1% of the maximum total offering price at which the securities will be offered in Minnesota, with a maximum combined fee not exceeding $300 The amount of the fee should be $250 if filed on time; In case of late filing, the fee must be $500 or 1/10 of 1% of the dollar value of the securities sold to Kansas residents prior to the filing date of Form D greater than $5,000 $250; Late deposit: $275. Total initial deposit + late fee = $525 $300 Additional late fee for non-filing of original notice and fee within 15 days of first sale of securities in Mississippi: 1% of the amount sold in Mississippi up to a maximum penalty of $5,000. Sales report fee and the sales report on Form D if the listing is not completed within 12 months of the date of the initial notice: $50 cancellation fee due with a notice of end of registration (at the closing of registration): $50 350; Late fees: Filing of Form D within 10 days of due date – $700; Deposit more than 10 days after maturity date – 1050 No deposit fee related to Regulation D exempts 1/10 of 1% of the total amount of securities described as being offered for sale, but in no event will the fee exceed $500. $200 plus 1/10 of 1% of an offer amount over $100,000 Maximum fee: $1,000 Secondary trading fee for covered federal securities: $500.

There are some exceptions to the types of offers that must be registered. These exceptions include securities listed on national stock exchanges (as part of efforts by federal regulators to streamline the supervisory process to the extent possible). For example, offers under Rule 506 of Regulation D of the Securities Act 1933 are considered “covered securities” and are also exempt. 1/10 of 1% of the Offering Price, with a minimum fee of $100 and a maximum fee of $500 $1,500 or equal to 1/5 of 1% of the maximum offering price at which the securities will be offered in Puerto Rico, with a minimum fee of $350 and the 506 Rule Deposit Change fee that increases the amount of securities offered: 1/5 of 1% of the additional shares offered, but the fee will not exceed $1,500 $100 Excusable negligence – Retroactive filing under section 1707.03(X): $100 (filing fee required) + $100 (penalty fee). *State filing fees are subject to change without notice. Please check with each state regulator for specific requirements and variables. $300 for bids of $500,000 or less, $1,200 for bids over $500,000* Companies involved in real estate activities are subject to different fees and must always file in the state General transaction costs: Persons currently trading in securities in the Virgin Islands must pay a $50 fee to file cancellations, withdrawals, notices and other documents from the Department of Banking and Insurance Remuneration. Late registration fee. 1/10 of 1% of the offer value of an offering of a federal covered securities offering with a maximum late fee of $525 will be charged in the following circumstances: (1) the provisions of RSA 421-B:3-303(c)(2) are requested to be waived; or (2) securities sold in that state are registered in more than the valid application filed with the Secretary of State if the maximum registration fee has not been paid; or (3) the application for registration is amended to increase the amount registered in that state if the maximum registration fee was not paid after the registration took effect in that state; In the years leading up to the stock market crash of 1929, such speculative ventures were widespread.