Fla. Law Cracks Down On Unregistered Securities Sales

Law360, New York (April 11, 2012, 6:32 PM EDT) -- A new, tougher securities law hit Florida's books Monday, toughening felony penalties on those who sell unregistered shares.

The law, called “Criminal penalties for violations of securities laws” or HB 777, increases the penalties for those who fail to register securities offerings with the state's Office of Financial Regulation. The crime is now categorized, along with crimes like forging checks and jury tampering, as a third-degree felony in the state that carries maximum five-year prison sentence.

Broker-dealers and securities issuer who failed to register face similar...
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