Martin Act
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The Martin Act is a New York State law that prohibits fraud. The federal laws generally regulate investments and securities. Many states also have "blue sky laws" to regulation stock issues that are not subject to federal regulation. New York State has an unusually broad anti-fraud law, which combined with the number of financial transactions that occur in the state results in the NY Attorney General having an unusually powerful role in the nation's economy.[1]
The Martin Act is codified at New York General Business Law article 23-A, sections 352–353,[2]
References
- ↑ Gross, Daniel (March 10, 2008). Spitzer Gets Spitzered: How Spitzer was brought down by the same kind of investigation he pioneered.. Slate.
- ↑ http://public.leginfo.state.ny.us/lawssrch.cgi?NVLWO: Retrived Sept. 4, 2017