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Can you summarize AKST 45.56 Article 3?
Alaska Securities Act. > Fraud and Liabilities.
Short Summary
The provided legal document is part of the Alaska Securities Act and governs certain conduct in providing investment advice. It applies to persons who provide advice for compensation regarding the value of securities or the advisability of investing in, purchasing, or selling securities. The document prohibits employing fraudulent schemes or engaging in acts that operate as fraud or deceit. It also allows regulations to define fraudulent, deceptive, or manipulative acts and prescribe means to prevent such acts by investment advisers and representatives. Additionally, regulations may specify the contents of investment advisory contracts. The document does not specify penalties for non-compliance or violations. There are exemptions for sales and advertising literature that relate to federal covered securities, federal covered investment advisers, or securities or transactions exempted by specific sections of the Alaska Securities Act.
Whom does it apply to?
Persons who provide advice for compensation regarding the value of securities or the advisability of investing in, purchasing, or selling securities
What does it govern?
Prohibits certain conduct in providing investment advice
What are exemptions?
Exemptions for sales and advertising literature that relate to federal covered securities, federal covered investment advisers, or securities or transactions exempted by specific sections of the Alaska Securities Act
What are the Penalties?
The document does not specify penalties for non-compliance or violations.
Jurisdiction
Alaska