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Over 700 finance terms, Shmooped to perfection.
There are thousands of rules about selling and marketing securities. These laws are there to protect you, but... they're confusing.
For one thing, each state has its own separate laws and there are federal rules to follow, too. Blue-Sky laws are the collective state regulations involving the marketing and sale of securities in a specific state. If you want to make new issues and secondary offerings available in, say, Idaho, you have to register according to the relevant Idaho laws. Some states' regulations are stricter than others.