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CALIFORNIA CORPORATE & SECURITIES LAW

The DBO As Religious Regulator

In December last, the Department of Business Oversight published the 2016 Commissioner’s Report on the Offer or Sale of Securities by Permit under Corporations Code Section 25113.  This report, which is required by California Corporations Code Section 25113(d), provides data on the permits issued by the Commissioner under the Corporate Securities Law of 1968.  Qualification by…

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FINRA’s Suitability Rule Is No Match For California’s Rule

FINRA’s New Rule Beginning on July 9, 2012, broker-dealers will be subject to FINRA’s new suitability rule.  Rule 2111(a) requires FINRA members and their associated person to have “a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained…

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