American Bar Association
State Regulation of Securities Committee

ABA Section of Business Law

State Regulation of Securities Committee

Message From The Chair

Our Committee provides a great opportunity to meet Blue Sky lawyers and paralegals from around the country. Its members provide a helpful resource for Blue Sky law, legend, and lore. Of course, this wonderful resource only works so well because all of is members generously share their knowledge and experience with the rest of us. Get involved!

The Committee conducts regular meetings two times each year -- in conjunction with the Spring Meeting of the ABA Section of Business Law (typically in April) and the Annual Meeting of the North American Securities Administrators Association (typically in September or October). The NASAA Annual Meeting is a great opportunity to meet state securities regulators.

From time to time, the Committee holds informal luncheon meetings with featured speakers. We also use dial-in conference lines to enable members to listen and ask questions. Details of our upcoming meetings may be found in the "Programs, Meetings and Events" module of the Committee's website.

Our Committee's recurring publications include:

(1) Materials prepared for current and past CLE programs we sponsor or co-sponsor at ABA Business Law Section meetings;

(2) Our newsletter, The Blue Sky Bugle;

(3) Comment letters submitted to various regulators; and

(4) Reports from our subcommittees, available under the "Committee Materials" heading on the Committee's website; these includes annual reports from our state an provincial liaisons to securities administrators describing current developments in their jurisdictions.

If you have expertise or interest in any particular aspect of Blue Sky law, if you would like to join one of our subcommittees or have ideas to invigorate its work, if there is information that you would like posted on the Committee's listserv, or if there are issues or questions that you feel the Committee might address, we would be delighted to know about it.

If you are interested in writing a short article for The Blue Sky Bugle, we would welcome your contribution, and we will put you in touch with the Bugle's editor. If you have friends or colleagues whose work involves Blue Sky law (including litigators handling state enforcement proceedings or private actions involving Blue Sky issues), please urge them to join the Committee to share our knowledge and contribute their own. Any member of the ABA Business Law Section can easily join the Committee for no additional cost, through the links on the "Committees" module of the Section's homepage.

I look forward to seeing you at a meeting or hearing from you in the near future!

Shane B. Hansen, Chair

Our Members and Our Mission

The mission of the State Regulation of Securities Committee is to monitor and report on common practices and current developments involving all aspects of state and provincial securities laws, rules, and their administration, including the regulation of securities offerings, broker-dealers, investment advisers, issuers, and their representatives. We comment on rules, policy statements, and interpretations proposed by states and the North American Securities Administrators Association ("NASAA"). Committee Facts

  • Membership: More than 600 attorneys, paralegals, state regulators, and law students
  • Recurring Meetings: Spring Business Law Section meeting; Fall NASAA meeting
  • Newsletter: Blue Sky Bugle electronically published three times each year; periodic enewsletters and special alerts circulated via our main and topical listserves
  • Reports: Annual surveys of state and provincial securities regulation and enforcement

Areas of Expertise

  • Exempt securities
  • Exempt securities transactions
  • Broker-dealers and investment advisers
  • Enforcement, litigation and arbitration
  • NSMIA and “covered securities” (federal preemption)
  • Securities registration
  • Uniform Securities Act (2002)
  • Canadian securities regulation
  • Proposed private placement broker

Join Us

- Join Our Committee
- Join Our Section
- Join The ABA

Programs, Meetings and Events

Committee Events
April 12, 2014
Our 2014 Spring Meeting will be held in conjuunction with the 2014 Spring Business Law Section Meeting in Los Angles, California.
Section Events
April 22, 2014
Location: N/A
Format: Webinar/Teleconference

April 23, 2014
Location: N/A
Format: Webinar/Teleconference

April 23, 2014 - April 25, 2014

Format: Live/In-Person


Chair:  Shane B Hansen

Vice-Chair:  Martin A Hewitt

Secretary:  Katherine Manghillis

Committee Roster (586 total members)

Listserves (help)

Members only listserve
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post | archives | search | settings

Subcommittees Click [+] for listing

 Sub Committees
 Task Forces

Other Links of Interest

Securities Links of Interest (Committee on Federal Regulation of Securities)
Law of Private Placements (Non-Public Offerings) Not Entitled to Benefits of Safe Harbors--A Report (The Business Lawyer; Vol. 66, November 2010)
Virtual Museum and Archive of the SEC and Securities History
NYSBA Securities Regulation Committee 2002 Policy Paper on Private Offering Exemptions and Exclusions Under the New York State Martin Act and Section 18 of the Securities Act of 1933
University of Toledo School of Law (with links to federal, state and a number of foreign securities, banking and insurance regulators' websites)

Committee Meetings, Call Recordings, and Materials

2013 Briefing Call - SEC Rulemaking on 'General Solicitation' and 'Bad Actors' (July 24, 2013)
CLE Program Materials
Committee Comment Letters
Committee Meeting Materials and Recordings
Newsletters: The Blue Sky Bugle

Committee Liaisons

Director, Committee on Content of the ABA Business Law Section
Paul Peter Nicolai

Director, Committee on Diversity of the ABA Business Law Section
Della P. Richardson

Director, Committee on Meetings of the ABA Business Law Section
Deborah Schwager Froling

Director, Committee on Membership of the ABA Business Law Section
Elizabeth A. Bleakley

Director, Committee on Pro Bono of the ABA Business Law Section
Thomas S. Brennan

Director, Committee on Technology of the ABA Business Law Section
Ryan L. Rivchun

Representative to NASAA Broker-Dealer Section
Melanie A. Jenkins

Representative to NASAA Enforcement Trends Project Group
Andrew Kandel

Representative to NASAA Investment Adviser Section and to the Subcommittee on Investment Companies and Investment Advisers of the ABA Business Law Section Committee on Federal Regulation of Securities
Tamara K. Salmon

Representative to NASAA Ombudsman
F. Lee Liebolt, Jr.

Representative on Regulation D Electronic Filing Issues
Gary M. Emmanuel

Representative on Variable Annuity Issues
Cheryl L. Haas-Goldstein


Modified by Shane B Hansen on January 13, 2014

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