Bill > LD2060

This bill makes technical changes to the Maine Uniform Securities Act by updating several key provisions. First, it corrects federal citation references for nonpublic offerings, specifically updating Section 4(2) to Section 4(a)(2) of the federal Securities Act of 1933, which governs certain types of securities transactions. Second, the bill modifies broker-dealer licensing exemptions to expand the Securities Administrator's authority to grant exemptions to any broker-dealer, regardless of their location, not just those without a place of business in the state. Third, the bill standardizes terminology by replacing the word "registration" with "licensure" when referring to broker-dealers, agents, investment advisers, and investment adviser representatives to ensure consistency with licensing requirements. These changes aim to clarify and streamline the existing securities regulations, making them more precise and easier to interpret, while maintaining the overall intent of protecting investors and regulating securities transactions in the state of Maine.

Health and Social Services

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2060&snum=132