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Can you summarize HIRS Chapter 485A, Part V?
Uniform Securities Act > Fraud and Liabilities
Short Summary
This legal document, part of the Hawaii Revised Statutes, specifically addresses fraud and liabilities in relation to the offer, sale, or purchase of securities. It prohibits various fraudulent activities, including employing schemes to defraud, making untrue statements or omitting material facts, engaging in fraudulent acts or practices, issuing misleading advertising materials, making false claims of approval or endorsement by the commissioner, and failing to file advertising materials with the commissioner. However, certain exemptions apply to advertising matter related to federal covered securities. The document does not specify the penalties for non-compliance or violation. Overall, it aims to ensure the integrity and transparency of securities transactions in Hawaii.
Whom does it apply to?
Individuals involved in the offer, sale, or purchase of securities
What does it govern?
Fraud and liabilities in relation to the offer, sale, or purchase of securities
What are exemptions?
Exemptions apply to advertising matter related to federal covered securities
What are the Penalties?
The document does not specify the penalties for non-compliance or violation.
Jurisdiction
Hawaii