GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Blue sky laws” is a term used for laws which are :
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Only for personal interest of a political party.
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Which cheaters can use to fraud public.
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Which are there to protect public from securities frauds.
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Which are created in hurry.
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Explanation:
Detailed explanation-1: -In addition to the federal securities laws, every state has its own set of securities laws-commonly referred to as “Blue Sky Laws"-that are designed to protect investors against fraudulent sales practices and activities.
Detailed explanation-2: -A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms.
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